Arijit Mukherjee, Sugata Marjit
Technology Transfer under Asymmetric Information: The Role of Equity Participation
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- 10.1628/0932456013623105
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Technological collaboration coupled with equity participation improves the quality of transacted technology relative to a situation characterised by a pure technology licensing agreement. Such a result is proved in a model of a signalling game with asymmetric information and threat of imitation. Different contractual arrangements involving equity participation with or without up-front fixed fee and/or output-based royalty payments are discussed.