Milestone payments or royalties? Contract design for R&D licensing

Milestone payments or royalties? Contract design for R&D licensing

We study how innovators can optimally design licensing contracts when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an up-front payment, milestone payments...

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Bibliographic Details
Main Authors: CRAMA, Pascale, DE REYCK, Bert, DEGRAEVE, Zeger
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2008
Subjects:
health care
pharmaceutical
research and development
innovation
principal-agent modeling
adverse selection
moral hazard
contract design
Operations and Supply Chain Management
Technology and Innovation
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/869
https://ink.library.smu.edu.sg/context/lkcsb_research/article/1868/viewcontent/Crama2008MilestonePayments_PP.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/lkcsb_research/869
https://ink.library.smu.edu.sg/context/lkcsb_research/article/1868/viewcontent/Crama2008MilestonePayments_PP.pdf

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