IDEAS home Printed from https://ideas.repec.org/a/spr/scient/v82y2010i2d10.1007_s11192-009-0008-z.html
   My bibliography  Save this article

Discovery of factors influencing patent value based on machine learning in patents in the field of nanotechnology

Author

Listed:
  • Scott D. Bass

    (University of Alberta)

  • Lukasz A. Kurgan

    (University of Alberta)

Abstract

Patents represent the technological or inventive activity and output across different fields, regions, and time. The analysis of information from patents could be used to help focus efforts in research and the economy; however, the roles of the factors that can be extracted from patent records are still not entirely understood. To better understand the impact of these factors on patent value, machine learning techniques such as feature selection and classification are used to analyze patents in a sample industry, nanotechnology. Each nanotechnology patent was represented by a comprehensive set of numerical features that describe inventors, assignees, patent classification, and outgoing references. After careful design that included selection of the most relevant features, selection and optimization of the accuracy of classification models that aimed at finding most valuable (top-performing) patents, we used the generated models to analyze which factors allow to differentiate between the top-performing and the remaining nanotechnology patents. A few interesting findings surface as important such as the past performance of inventors and assignees, and the count of referenced patents.

Suggested Citation

  • Scott D. Bass & Lukasz A. Kurgan, 2010. "Discovery of factors influencing patent value based on machine learning in patents in the field of nanotechnology," Scientometrics, Springer;Akadémiai Kiadó, vol. 82(2), pages 217-241, February.
    • Handle: RePEc:spr:scient:v:82:y:2010:i:2:d:10.1007_s11192-009-0008-z
    DOI: 10.1007/s11192-009-0008-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11192-009-0008-z
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11192-009-0008-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Angela Hullmann, 2007. "Measuring and assessing the development of nanotechnology," Scientometrics, Springer;Akadémiai Kiadó, vol. 70(3), pages 739-758, March.
    2. Trippe, Anthony J., 2003. "Patinformatics: Tasks to tools," World Patent Information, Elsevier, vol. 25(3), pages 211-221, September.
    3. Manuel Trajtenberg, 1990. "A Penny for Your Quotes: Patent Citations and the Value of Innovations," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 172-187, Spring.
    4. Bronwyn H. Hall & Adam Jaffe & Manuel Trajtenberg, 2005. "Market Value and Patent Citations," RAND Journal of Economics, The RAND Corporation, vol. 36(1), pages 16-38, Spring.
    5. repec:fth:harver:1473 is not listed on IDEAS
    6. Arnold Verbeek & Koenraad Debackere, 2006. "Patent evolution in relation to public/private R&D investment and corporate profitability: Evidence from the United States," Scientometrics, Springer;Akadémiai Kiadó, vol. 66(2), pages 279-294, February.
    7. Hagedoorn, John & Cloodt, Myriam, 2003. "Measuring innovative performance: is there an advantage in using multiple indicators?," Research Policy, Elsevier, vol. 32(8), pages 1365-1379, September.
    8. Ronald N. Kostoff & Raymond G. Koytcheff & Clifford G. Y. Lau, 2007. "Global nanotechnology research metrics," Scientometrics, Springer;Akadémiai Kiadó, vol. 70(3), pages 565-601, March.
    9. Martin S. Meyer, 2001. "Patent citation analysis in a novel field of technology:An exploration of nano-science and nano-technology," Scientometrics, Springer;Akadémiai Kiadó, vol. 51(1), pages 163-183, April.
    10. C. Gay & C. Le Bas, 2005. "Uses without too many abuses of patent citations or the simple economics of patent citations as a measure of value and flows of knowledge," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(5), pages 333-338.
    11. Albert, M. B. & Avery, D. & Narin, F. & McAllister, P., 1991. "Direct validation of citation counts as indicators of industrially important patents," Research Policy, Elsevier, vol. 20(3), pages 251-259, June.
    12. Karki, M. M. S., 1997. "Patent citation analysis: A policy analysis tool," World Patent Information, Elsevier, vol. 19(4), pages 269-272, December.
    13. Dietmar Harhoff & Francis Narin & F. M. Scherer & Katrin Vopel, 1999. "Citation Frequency And The Value Of Patented Inventions," The Review of Economics and Statistics, MIT Press, vol. 81(3), pages 511-515, August.
    14. Nicola Baldini & Rosa Grimaldi & Maurizio Sobrero, 2007. "To patent or not to patent? A survey of Italian inventors on motivations, incentives, and obstacles to university patenting," Scientometrics, Springer;Akadémiai Kiadó, vol. 70(2), pages 333-354, February.
    15. Szu-Chia Lo, 2008. "Patent coupling analysis of primary organizations in genetic engineering research," Scientometrics, Springer;Akadémiai Kiadó, vol. 74(1), pages 143-151, January.
    16. Martin Meyer, 2007. "What do we know about innovation in nanotechnology? Some propositions about an emerging field between hype and path-dependency," Scientometrics, Springer;Akadémiai Kiadó, vol. 70(3), pages 779-810, March.
    17. Dar-Zen Chen & Wen-Yau Cathy Lin & Mu-Hsuan Huang, 2007. "Using Essential Patent Index and Essential Technological Strength to evaluate industrial technological innovation competitiveness," Scientometrics, Springer;Akadémiai Kiadó, vol. 71(1), pages 101-116, April.
    18. Connolly, Robert A. & Hirschey, Mark, 1988. "Market value and patents : A Bayesian approach," Economics Letters, Elsevier, vol. 27(1), pages 83-87.
    19. Zvi Griliches, 1998. "Patent Statistics as Economic Indicators: A Survey," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 287-343, National Bureau of Economic Research, Inc.
    20. Carpenter, Mark P. & Narin, Francis & Woolf, Patricia, 1981. "Citation rates to technologically important patents," World Patent Information, Elsevier, vol. 3(4), pages 160-163, October.
    21. Bart Van Looy & Koenraad Debackere & Julie Callaert & Robert Tijssen & Thed van Leeuwen, 2006. "Scientific capabilities and technological performance of national innovation systems: An exploration of emerging industrial relevant research domains," Scientometrics, Springer;Akadémiai Kiadó, vol. 66(2), pages 295-310, February.
    22. V. K. Gupta, 1999. "Technological trends in the area of fullerenes using bibliometric analysis of patents," Scientometrics, Springer;Akadémiai Kiadó, vol. 44(1), pages 17-31, January.
    23. Shyh-Jen Wang, 2007. "Factors to evaluate a patent in addition to citations," Scientometrics, Springer;Akadémiai Kiadó, vol. 71(3), pages 509-522, June.
    24. Reitzig, Markus, 2003. "What determines patent value?: Insights from the semiconductor industry," Research Policy, Elsevier, vol. 32(1), pages 13-26, January.
    25. Angela Hullmann & Martin Meyer, 2003. "Publications and patents in nanotechnology," Scientometrics, Springer;Akadémiai Kiadó, vol. 58(3), pages 507-527, November.
    26. S. le Cessie & J. C. van Houwelingen, 1992. "Ridge Estimators in Logistic Regression," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 41(1), pages 191-201, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shu-Hao Chang, 2018. "A pilot study on the connection between scientific fields and patent classification systems," Scientometrics, Springer;Akadémiai Kiadó, vol. 114(3), pages 951-970, March.
    2. Shu-Hao Chang, 2017. "The evolutionary growth estimation model of international cooperative patent networks," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(2), pages 711-729, August.
    3. Chang, Shu-Hao & Fan, Chin-Yuan, 2016. "Identification of the technology life cycle of telematics: A patent-based analytical perspective," Technological Forecasting and Social Change, Elsevier, vol. 105(C), pages 1-10.
    4. Sajad Ashouri & Anne-Laure Mention & Kosmas X. Smyrnios, 2021. "Anticipation and analysis of industry convergence using patent-level indicators," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(7), pages 5727-5758, July.
    5. Elena M. Tur & Evangelos Bourelos & Maureen McKelvey, 2022. "The case of sleeping beauties in nanotechnology: a study of potential breakthrough inventions in emerging technologies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(3), pages 683-708, December.
    6. Torben Schubert, 2011. "Assessing the value of patent portfolios: an international country comparison," Scientometrics, Springer;Akadémiai Kiadó, vol. 88(3), pages 787-804, September.
    7. Dušan Marković, 2018. "RETRACTED ARTICLE: Appraisal of Science and Economic Factors on Total Number of Granted Patents," Networks and Spatial Economics, Springer, vol. 18(4), pages 1019-1026, December.
    8. Chang, Shu-Hao, 2017. "The technology networks and development trends of university-industry collaborative patents," Technological Forecasting and Social Change, Elsevier, vol. 118(C), pages 107-113.
    9. Chung, Park & Sohn, So Young, 2020. "Early detection of valuable patents using a deep learning model: Case of semiconductor industry," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    10. Shu-Hao Chang & Chin-Yuan Fan, 2020. "Using Patent Technology Networks to Observe Neurocomputing Technology Hotspots and Development Trends," Sustainability, MDPI, vol. 12(18), pages 1-15, September.
    11. Jungpyo Lee & So Young Sohn, 2017. "What makes the first forward citation of a patent occur earlier?," Scientometrics, Springer;Akadémiai Kiadó, vol. 113(1), pages 279-298, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Keijl, S. & Gilsing, V.A. & Knoben, J. & Duysters, G., 2016. "The two faces of inventions: The relationship between recombination and impact in pharmaceutical biotechnology," Research Policy, Elsevier, vol. 45(5), pages 1061-1074.
    2. Nicolas van Zeebroeck, 2007. "Patents only live twice: a patent survival analysis in Europe," Working Papers CEB 07-028.RS, ULB -- Universite Libre de Bruxelles.
    3. Altuntas, Serkan & Dereli, Turkay & Kusiak, Andrew, 2015. "Analysis of patent documents with weighted association rules," Technological Forecasting and Social Change, Elsevier, vol. 92(C), pages 249-262.
    4. Nicolas van Zeebroeck, 2011. "The puzzle of patent value indicators," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 20(1), pages 33-62.
    5. Adam B. Jaffe & Gaétan de Rassenfosse, 2017. "Patent citation data in social science research: Overview and best practices," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 68(6), pages 1360-1374, June.
    6. Mu-Hsuan Huang & Dar-Zen Chen & Danqi Shen & Mona S. Wang & Fred Y. Ye, 2015. "Measuring technological performance of assignees using trace metrics in three fields," Scientometrics, Springer;Akadémiai Kiadó, vol. 104(1), pages 61-86, July.
    7. Eun Han & So Sohn, 2015. "Patent valuation based on text mining and survival analysis," The Journal of Technology Transfer, Springer, vol. 40(5), pages 821-839, October.
    8. Ahmad Barirani & Bruno Agard & Catherine Beaudry, 2013. "Discovering and assessing fields of expertise in nanomedicine: a patent co-citation network perspective," Scientometrics, Springer;Akadémiai Kiadó, vol. 94(3), pages 1111-1136, March.
    9. Jurriën Bakker & Dennis Verhoeven & Lin Zhang & Bart Van Looy, 2016. "Patent citation indicators: One size fits all?," Scientometrics, Springer;Akadémiai Kiadó, vol. 106(1), pages 187-211, January.
    10. Hagedoorn, John & Cloodt, Myriam, 2003. "Measuring innovative performance: is there an advantage in using multiple indicators?," Research Policy, Elsevier, vol. 32(8), pages 1365-1379, September.
    11. Petra Moser & Joerg Ohmstedt & Paul W. Rhode, 2015. "Patent Citations and the Size of the Inventive Step - Evidence from Hybrid Corn," NBER Working Papers 21443, National Bureau of Economic Research, Inc.
    12. Petra Moser & Joerg Ohmstedt & Paul M. Rhode, 2016. "Patent Citations - An Analysis of Quality Differences and Citing Practices in Hybrid Corn," Working Papers 16-05, New York University, Leonard N. Stern School of Business, Department of Economics.
    13. Jurriën Bakker, 2017. "The log-linear relation between patent citations and patent value," Scientometrics, Springer;Akadémiai Kiadó, vol. 110(2), pages 879-892, February.
    14. Elena M. Tur & Evangelos Bourelos & Maureen McKelvey, 2022. "The case of sleeping beauties in nanotechnology: a study of potential breakthrough inventions in emerging technologies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(3), pages 683-708, December.
    15. Leten, Bart & Landoni, Paolo & Van Looy, Bart, 2014. "Science or graduates: How do firms benefit from the proximity of universities?," Research Policy, Elsevier, vol. 43(8), pages 1398-1412.
    16. Chang, Ke-Chiun & Chen, Dar-Zen & Huang, Mu-Hsuan, 2012. "The relationships between the patent performance and corporation performance," Journal of Informetrics, Elsevier, vol. 6(1), pages 131-139.
    17. Petra Moser & Joerg Ohmstedt & Paul W. Rhode, 2018. "Patent Citations—An Analysis of Quality Differences and Citing Practices in Hybrid Corn," Management Science, INFORMS, vol. 64(4), pages 1926-1940, April.
    18. Jee, Su Jung & Kwon, Minji & Ha, Jung Moon & Sohn, So Young, 2019. "Exploring the forward citation patterns of patents based on the evolution of technology fields," Journal of Informetrics, Elsevier, vol. 13(4).
    19. Guan-Can Yang & Gang Li & Chun-Ya Li & Yun-Hua Zhao & Jing Zhang & Tong Liu & Dar-Zen Chen & Mu-Hsuan Huang, 2015. "Using the comprehensive patent citation network (CPC) to evaluate patent value," Scientometrics, Springer;Akadémiai Kiadó, vol. 105(3), pages 1319-1346, December.
    20. R. Karpagam & S. Gopalakrishnan & M. Natarajan & B. Ramesh Babu, 2011. "Mapping of nanoscience and nanotechnology research in India: a scientometric analysis, 1990–2009," Scientometrics, Springer;Akadémiai Kiadó, vol. 89(2), pages 501-522, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:scient:v:82:y:2010:i:2:d:10.1007_s11192-009-0008-z. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.