Kostandini, GentianMills, Bradford F.2020-02-032020-02-032005-07http://hdl.handle.net/10919/96669Small firms developing biotechnology applications often focus on establishing intellectual property rights, which can then be sold to more established firms with existing market chains. This paper explores the expected ‘Buyout’ price and economic surplus changes for an emerging bio-pharming application with transgenic tobacco. The results suggest a ‘Buyout’ price of about $1.75 billion. Yet despite this potentially large payout to the innovating firm, consumers also see significant surplus gains.27 pagesapplication/pdfenIn Copyright (InC)This Item is protected by copyright and/or related rights. Some uses of this Item may be deemed fair and permitted by law even without permission from the rights holder(s). For other uses you need to obtain permission from the rights holder(s).Buyoutbio-pharmingtransgenic tobaccoimperfect competitioneconomic surplusPresentation