| The link between the public subsidization of private research and development (R&D) and the technological value of patents produced by subsidized firms has been largely unexamined. Historically, the United States has encouraged the formation of publicly subsidized research consortia to support struggling R&D-intensive industries. The increase of subsidies for private R&D has been linked with increased patent output in the short-term, but long-term effects on the technological value of the resultant patents were unknown. One consortia, SEMATECH, was widely regarded has a successful model for public subsidization of private R&D Between 1988-1996, SEMATECH received annual subsidies of... |
