Prompt Patent Approval Spurs Startup Growth

摘要

Prompt patent approvals are associated with greater job and sales growth and higher investor returns at startup firms, Joan Farre-Mensa, Deepak Hegde, and Alexander Ljungqvist find in The Bright Side of Patents (NBER Working Paper No. 21959). Delays in approval substantially hurt a startup's growth prospects, and reduce not just jobs and sales growth but also follow-on innovation and the probability of going public or being bought.