Markets versus spillovers in outflows of university research
Review articleOpen access

Highlights•We compare knowledge flows from university inventions via contracts and non-market spillovers.•Contract-based knowledge flows are more geographically localized than spillovers.•These differential effects are driven by exclusively licensed inventions.•Suggests incomplete nature of contracts and need to access inventor know-how.•These factors appear to be less important for nonexclusively licensed inventions.

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