Intellectual property rights affect the incentives of firms to participate in research joint ventures, collaborate efficiently with their partners, and exploit the knowledge created by a joint venture. Economists and policy analysts know little about the effects of intellectual property rights on the rate of formation, organization, nature of research, and expected economic impacts of research joint ventures. The proliferation of interfirm cooperation in R&D requires addressing those issues. It also requires a better understanding of the relationship between intellectual property rights and national innovation systems.
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