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The Value of U.S. Patents by Owner and Patent Characteristics

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Author Info
James Bessen () (Research on Innovation, Boston University School of Law)

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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%. Patents issued to small patentees are much less valuable than those issued to large corporations, perhaps reflecting imperfect markets for technology. 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.

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Paper provided by Research on Innovation in its series Working Papers with number 0603.

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Date of creation: 2006
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Handle: RePEc:roi:wpaper:0603

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Web page: http://www.researchoninnovation.org

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  1. Nicolas van Zeebroeck, 2008. "Long live patents: the increasing life expectancy of patent applications and its determinants," Working Papers CEB 08-040.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
  2. Chu, Angus C., 2009. "Effects of Patent Length on R&D: A Quantitative DGE Analysis," MPRA Paper 16918, University Library of Munich, Germany. [Downloadable!]
  3. Heli Koski & Luigi -Mäkinen Marengo, 2009. "Managerial Practices, Performance and Innovativeness: Some Evidence from Finnish Manufacturing," Discussion Papers 1176, The Research Institute of the Finnish Economy. [Downloadable!]
  4. Gambardella, Alfonso & Harhoff, Dietmar & Verspagen, Bart, 2008. "The Value of European Patents," CEPR Discussion Papers 6848, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  5. Nicolas van Zeebroeck, 2009. "From patent renewals to applications survival: do portfolio management strategies play a role in patent length?," Working Papers CEB 09-028.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
  6. Chu, Angus C., 2009. "Macroeconomic Effects of Intellectual Property Rights: A Survey," MPRA Paper 17342, University Library of Munich, Germany. [Downloadable!]
  7. Leonard I. Nakamura, 2008. "Intangible assets and national income accounting," Working Papers 08-23, Federal Reserve Bank of Philadelphia. [Downloadable!]
  8. Antonelli Cristiano & Colombelli Alessandra, 2009. "The Generation and Exploitation of Technological Change: Market Value and Total Factor Productivity," Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo 200912, University of Turin. [Downloadable!]
  9. Leonard I. Nakamura, 2009. "Intangible assets and national income accounting: measuring a scientific revolution," Working Papers 09-11, Federal Reserve Bank of Philadelphia. [Downloadable!]
  10. Heli Koski & Luigi Marengo & Iiro Mäkinen, 2009. "Firm size, managerial practices and innovativeness: some evidence from Finnish manufacturing," LEM Papers Series 2009/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
  11. Nicolas van Zeebroeck, 2007. "Patents only live twice: a patent survival analysis in Europe," Working Papers CEB 07-028.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
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