| Summary: | 碩士 === 國立中央大學 === 產業經濟研究所 === 96 === This paper establishes a vertical-related model which both considers intermediate goods and final goods, and discusses the licensing issue under two situations: the innovation of the final good firm is non-drastic or drastic. Under the model which considers both the intermediate goods and the final goods, we find that no matter royalty or fixed fees licensing will not affect the intermediate goods’ price if the final good’s firm is non-drastic innovation firm. However, when the final good’s firm is a drastic innovation firm, the equilibrium intermediate goods’ price under licensing would be higher than that under non-licensing. Besides, we have to notice that, when the final good’s firm has drastic innovation, licensing could still occur under the vertical-related model. This point is different from the past licensing literatures’ conclusion: when the final good’s firm has drastic innovation, licensing never occurs.
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