TY - JOUR
T1 - Patent Litigation and Narrative R&D Disclosures
T2 - Evidence from the Adoption of Anti-Troll Legislation
AU - Huang, Rui
AU - Kim, Jeong-Bon
AU - Lu, Louise Yi
AU - Wang, Dongyue
AU - Yu, Yangxin
N1 - Full text of this publication does not contain sufficient affiliation information. With consent from the author(s) concerned, the Research Unit(s) information for this record is based on the existing academic department affiliation of the author(s)
PY - 2025/1
Y1 - 2025/1
N2 - The last two decades have witnessed a sharp increase in patent litigation in the United States (U.S.), mainly driven by patent trolls. By exploiting the staggered adoption of Anti-Troll laws across 34 states as a plausible exogenous shock that reduces the risk of patent litigation by these trolls, we show that firms significantly increase their narrative R&D disclosures following the enactment of Anti-Troll laws. This effect is less pronounced in firms facing higher competitive pressure, and more pronounced in firms that are more exposed to threats from patent trolls. Further analyses alleviate the concern that the impact of Anti-Troll laws on disclosures is attributable to state-level economic or policy changes. Our results highlight the significant role of patent troll litigation in influencing the dissemination of narrative R&D information. © 2024 Elsevier B.V.
AB - The last two decades have witnessed a sharp increase in patent litigation in the United States (U.S.), mainly driven by patent trolls. By exploiting the staggered adoption of Anti-Troll laws across 34 states as a plausible exogenous shock that reduces the risk of patent litigation by these trolls, we show that firms significantly increase their narrative R&D disclosures following the enactment of Anti-Troll laws. This effect is less pronounced in firms facing higher competitive pressure, and more pronounced in firms that are more exposed to threats from patent trolls. Further analyses alleviate the concern that the impact of Anti-Troll laws on disclosures is attributable to state-level economic or policy changes. Our results highlight the significant role of patent troll litigation in influencing the dissemination of narrative R&D information. © 2024 Elsevier B.V.
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U2 - 10.1016/j.respol.2024.105127
DO - 10.1016/j.respol.2024.105127
M3 - RGC 21 - Publication in refereed journal
SN - 0048-7333
VL - 54
JO - Research Policy
JF - Research Policy
IS - 1
M1 - 105127
ER -