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If this process is quick or very cheap, then very little surplus is captured by the initial innovator. Indeed, if the cost of developing the innovation in the first place was privately borne, the rapid imitation can reduce the benefits from innovating below the original cost. Any innovator ...
Edgerton J (2012) Agency problems in public firms: evidence from corporate jets in leveraged buyouts. J Financ 67:2187–2213 ArticleGoogle Scholar Espenlaub S, Khurshed A, Mohamed A (2015) Venture capital exits in domestic and cross-border investments. J Bank Financ 53:215–232 ...