Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
984793 | Research Policy | 2008 | 14 Pages |
Abstract
This paper uses renewal data to estimate the value of U.S. patents, controlling for patent and owner characteristics. Estimates of U.S. patent value are substantially larger than estimates for European patents, however, the ratio of U.S. patent value to R&D for firms is only about 3%. Contrary to a common assertion, patents issued to small patentees are much less valuable than those issued to large corporations. Litigated patents are more valuable, as are highly cited patents. However, patent citations explain little variance in value, suggesting limits to their use as a measure of patent quality.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
James Bessen,