The Determinants of the Patent Applications at United States Universities How Can Vietnamese Universities Learn from the Evidence?

Abstract. This paper presents findings from an analysis of the effects of commercialization process and start-up company formation on the outcome of research activities at universities in the United States (U.S.). In particular, we implement the fixed effect model differentiating both the level effects and the rate effects of licensing income and start-ups. We find some interesting results. First, the elapsed time to compensate the initial value loss of a patent application from the commercialization process is approximately 3.6 years. Second, it takes around 3.8 years to offset the initial reduction of patent applications from generating a new start-up company formation. In addition, the paper also finds that patent applications have not developed in Vietnam. Specifically, Vietnamese universities have not generated considerable revenue from licensing university intellectual property in the forms of patents as well as establishing start-up company formation