Introduction; Patent Protection, the Firm, and the Economy; Uncertainty, Irreversibility, and Flexibility; Patent Protection in the Pharmaceutical Industry; Introduction and Related Work; Patents as Investment Opportunities; Patent Risk as Jumps in the Underlying Process; From Business Shifts to Jump Processes; Preliminary Conclusion; Introduction and Related Work; Patent Risk as an Option to Litigate; Preliminary Conclusion; Conclusion
Summary
Over the last years, due to intensive competition in the knowledge economy, legal aspects surrounding intellectual property (IP) rights - including litigation and settlement - have continuously gained in importance. This test proposes an integrated approach to patent risk and capital budgeting in pharmaceutical research and development (R and D)