Eskil Ullberg

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The Language of Trust and Reciprocity in Patent Markets: A Sociological Analysis of Property Rights on Messages Resolving Uncertainty in Exchange in Ideas

by Eskil Ullbergvia IP2 Working Paper Series
Monday, December 14, 2015

Firms exchanging technology using the patent system as a trade system (through licensing, cross- licensing, transfer, intermediaries and other mechanisms) face uncertainty that cannot be resolved by information alone; trust in each other’s actions appears to be needed. Information is needed to resolve risk (a probability distribution can be constructed) but uncertainty (where a distribution cannot be made) requires trust in each other’s actions to be resolved and allow for rational decisions to be made regarding price.