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The Effects of Patent Regime Changes: A Case Study of the European Patent Office

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  • Deng, Yi

    ()
    (Department of Economics, Southern Methodist University)

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Abstract

Patent system in Europe has undergone significant changes during the 1970s around the establishment of the European Patent Office (EPO), and this paper tries to quantify the influence of such policy changes on the private value of European patents. Based on the patent renewal records, I estimate the private value of patents in Germany, France and the U.K. obtained through the EPO patenting route during the early 1980s, and compare the estimated value with the patent value in the same three countries before the establishment of the EPO, as estimated by Pakes (1986). The average quality and the private value of the EPO patents are substantially higher than those obtained through the national route. The uniform examination and granting procedure at the EPO has effectively eliminated the inter-country differences in the patentability standards and the scope of patents, and has significantly decreased the differences in patent value across these countries. I also find that the extension of the statutory limit to the maximal length of patent lives and changes in the renewal fee schedule have only had modest effects on patent value, and that the learning process of the EPO patents are much longer than that of the national patents.

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Bibliographic Info

Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 0512.

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Length: 29 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:smu:ecowpa:0512

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Postal: Department of Economics, P.O. Box 750496, Southern Methodist University, Dallas, TX 75275-0496
Phone: 214-768-2715
Fax: 214-768-1821
Web page: http://www.smu.edu/economics

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Keywords: European Patent Office; Private Value of Patents; Patent Regime Change;

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  1. repec:fth:harver:1473 is not listed on IDEAS
  2. Pakes, Ariel S, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," Econometrica, Econometric Society, vol. 54(4), pages 755-84, July.
  3. Jean O. Lanjouw & Mark Schankerman, 2004. "Patent Quality and Research Productivity: Measuring Innovation with Multiple Indicators," Economic Journal, Royal Economic Society, vol. 114(495), pages 441-465, 04.
  4. Mark Schankerman & Ariel Pakes, 1985. "Estimates of the Value of Patent Rights in European Countries During thePost-1950 Period," NBER Working Papers 1650, National Bureau of Economic Research, Inc.
  5. Jean LANJOUW & Josh LERNER, 1998. "The Enforcement of Intellectual Property Rights: A Survey of the Empirical Literature," Annales d'Economie et de Statistique, ENSAE, issue 49-50, pages 223-246.
  6. Deng, Yi, 2005. "Private Value of European Patents," Departmental Working Papers 0513, Southern Methodist University, Department of Economics.
  7. Ted O'Donoghue & Suzanne Scotchmer & Jacques-François Thisse, 1998. "Patent Breadth, Patent Life, and the Pace of Technological Progress," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 7(1), pages 1-32, 03.
  8. Griliches, Zvi, 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1661-1707, December.
  9. Zvi Griliches, 1984. "R & D, Patents, and Productivity," NBER Books, National Bureau of Economic Research, Inc, number gril84-1, octubre-d.
  10. Suzanne Scotchmer, 1999. "On the Optimality of the Patent Renewal System," RAND Journal of Economics, The RAND Corporation, vol. 30(2), pages 181-196, Summer.
  11. Jean O. Lanjouw & Josh Lerner, 1997. "The Enforcement of Intellectual Property Rights: A Survey of the Empirical Literature," NBER Working Papers 6296, National Bureau of Economic Research, Inc.
  12. Ariel Pakes & Mark Schankerman, 1984. "The Rate of Obsolescence of Patents, Research Gestation Lags, and the Private Rate of Return to Research Resources," NBER Chapters, in: R & D, Patents, and Productivity, pages 73-88 National Bureau of Economic Research, Inc.
  13. Jean O. Lanjouw & Mark Schankerman, 1997. "Stylized Facts of Patent Litigation: Value, Scope and Ownership," NBER Working Papers 6297, National Bureau of Economic Research, Inc.
  14. Deng, Yi, 2005. "Renewal Study of European Patents: A Three-country Comparison," Departmental Working Papers 0514, Southern Methodist University, Department of Economics.
  15. Carmen Matutes & Pierre Regibeau & Katharine Rockett, 1996. "Optimal Patent Design and the Diffusion of Innovations," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 60-83, Spring.
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Cited by:
  1. van Pottelsberghe, Bruno & van Zeebroeck, Nicolas, 2007. "A Brief History of Space and Time: the Scope-Year Index as a Patent Value Indicator Based on Families and Renewals," CEPR Discussion Papers 6321, C.E.P.R. Discussion Papers.
  2. Cédric Schneider, 2009. "External knowledge sourcing: science, market and the value of patented inventions," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(8), pages 551-560.
  3. Enrico Santarelli & Francesca Lotti, 2007. "The Relationship among innovative Output, Productivity, and Profitability. A test comparing USPTO and EPO data," Jena Economic Research Papers 2007-020, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  4. Deng, Yi, 2006. "Trade Balance of Patent Rights: Who Gains What from International Patent Harmonization, and Why?," Departmental Working Papers 0519, Southern Methodist University, Department of Economics, revised Nov 2006.
  5. Malva, Antonio Della & Hussinger, Katrin, 2012. "Corporate science in the patent system: An analysis of the semiconductor technology," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 118-135.

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