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Vertical Integration and the Licensing of Innovation with a Fixed Fee or a Royalty
The author analyses a situation where a patent holder is considered as an upstream firm that can license its innovation to some downstream companies that compete on a final market with differentiated products. They show that a licence based on a royalty works better with vertical integration, and that consequently, the patent holder have some interest to vertically integrate if it enables him to apply a royalty based license.
http://www.grenoble.inra.fr/Docs/pub/A2005/gael2005-17.pdf