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Licensing and reassignment of patents occur either directly or with the assistance of a patent broker. Building forth on previous research on the topic, we investigate under which conditions patent brokers can be a first best. First, we discuss structural reasons that can make patent brokers a preferable option in extracting value from patents. Second, we argue that patent brokers do have specific competences that make their presence necessary. By discussing most relevant managerial theories, we formulate specific hypotheses to be tested empirically. We also offer thoughts on a possible research design as to investigate patent brokers