This paper analyzes how VC firms evaluate the patent portfolios of start-up companies in their financing decisions. On one hand, we determine whether the amount of VC financing is associated with three elements related to technological portfolios: patent counts, patent scope and the number of core technology patents. On the other hand, we examine whether the valuation of patents in the financing decisions varies across different types of VC firms, depending on their degree of industry specialization and affiliation. We provide empirical evidence from a sample of 332 VC-backed companies in the nanotechnology sector.
How good are VCs at valuing technology? An analysis of patenting and VC investments in nanotechnology / Munari F.; Toschi L.. - ELETTRONICO. - (2009), pp. 1-34. (Intervento presentato al convegno CASS Workshop tenutosi a London nel 16-18 December 2009).
How good are VCs at valuing technology? An analysis of patenting and VC investments in nanotechnology
MUNARI, FEDERICO;TOSCHI, LAURA
2009
Abstract
This paper analyzes how VC firms evaluate the patent portfolios of start-up companies in their financing decisions. On one hand, we determine whether the amount of VC financing is associated with three elements related to technological portfolios: patent counts, patent scope and the number of core technology patents. On the other hand, we examine whether the valuation of patents in the financing decisions varies across different types of VC firms, depending on their degree of industry specialization and affiliation. We provide empirical evidence from a sample of 332 VC-backed companies in the nanotechnology sector.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
