Publications

March 1998 (Revised June 1998)
Case

BCI Growth III: November 1993

Supplements BCI Growth III: May 1993. View Details

Keywords: Private Equity; Business Growth and Maturation; Consolidation; Acquisition; Wastes and Waste Processing; Service Industry; United States

February 1998 (Revised April 1998)
Case

Xerox Technology Ventures: January 1997

Supplements Xerox Technology Ventures: March 1995. View Details

Keywords: Service Industry; Computer Industry

Article

The Enforcement of Intellectual Property Rights: A Survey of the Empirical Literature

By: Josh Lerner and Jenny Lanjouw

Keywords: Intellectual Property; Rights

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December 1997 (Revised September 1998)
Case

Yale University Investments Office: November 1997

David Swensen, chief investment officer at Yale University, reviews the $6 billion endowment strategy, which places an unusually heavy emphasis on private equity and other illiquid securities. Changing market conditions in November 1997 cause him to rethink... View Details

Keywords: Change; Private Equity; Financial Liquidity; Investment; Marketing Strategy; Strategy; Education Industry

November 1997 (Revised January 2003)
Case

Martin Smith: January 2002

An MBA student must choose between offers from three private equity organizations. Each organization has distinct strengths and weaknesses, and different implications for the student's career development. The case presents compensation and employment data about the... View Details

Keywords: Private Equity; Compensation and Benefits; Analytics and Data Science; Job Offer; Personal Development and Career

1997
Working Paper

Venture Capital and Private Equity: A Course Overview

fall 1997
Article

Venture Capital and the Creation of Public Companies: Do Venture Capitalists Really Bring More than Money?

By: Paul A. Gompers and Josh Lerner

Keywords: Venture Capital; Business Ventures; Money; Public Ownership

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1997
Chapter

Patent Scope and Emerging Industries: Biotechnology, Software, and Beyond

By: Josh Lerner and Robert P. Merges

Keywords: Patents; Applications and Software; Genetics; Information Technology Industry; Biotechnology Industry

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January 1997 (Revised November 1997)
Case

Fojtasek Companies and Heritage Partners, The: March 1995

By: Samuel L. Hayes III and Josh Lerner

The Fojtasek Companies, a family business, faces several financing choices to address generational succession issues. Several buyouts have expressed interest in acquiring the firm outright; an investment bank has proposed a leveraged recapitalization; and a private... View Details

Keywords: Family Ownership; Financing and Loans; Private Equity; Mergers and Acquisitions; Investment Banking; Partners and Partnerships; Management Succession; Capital Structure; Financial Strategy

1997
Chapter

Discussion of "Microeconomic Policy, Technological Change, and Small Business" by Edwin Mansfield

By: Joshua Lerner

Edwin Mansfield’s thoughtful review of the literature on the economics of technological change raises a variety of interesting issues, far too many to address in a few pages. Consequently I will focus my discussion on the section that I found most challenging and... View Details

Keywords: Policy; Technological Innovation

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October 1996 (Revised March 2011)
Background Note

Note on Valuation in Private Equity Settings, A

By: Josh Lerner and John Willinge

This note discusses several ways in which venture-backed firms can be valued, including comparables, net present value, decision-tree analysis, and the "venture capital method." View Details

Keywords: Entrepreneurship; Venture Capital; Private Equity; Investment; Valuation

October 1996 (Revised November 1997)
Background Note

Venture Capital and Private Equity: Course Overview

Provides an overview of the Venture Capital and Private Equity modules. View Details

Keywords: Venture Capital; Private Equity