Early Patent Disclosure and R&D Investment in Family Firms
研究发现，美国发明人保护法案要求专利申请在18个月后提前披露，这导致家族企业减少研发投资，表明早期披露被视为对家族企业创新活动的威胁。
Abstract This paper shows that the American Inventor's Protection Act, which introduced the disclosure of patent applications after 18 months, that is, before a grant decision is taken and, hence, before it is known whether the respective technology will receive legal protection, is associated with a reduction of family firms’ research and development (R&D) investment. This suggests that early disclosure of patent applications is perceived as a threat to family firms’ innovation activity and discourages their R&D investment. This finding deserves our attention because family firms account for a large share of the US economy, and a reduction in their R&D investment can have long‐term consequences.