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Private Value of European Patents

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  • Deng, Yi

    ()
    (Department of Economics, Southern Methodist University)

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Abstract

I examine the joint patent designation-renewal behavior of the EPO patent applicants during 1978 to 1996, using both nonparametric technique and a parametric model. The European patents through the EPO are substantially more valuable than patents through the national route. Value distributions of the patents are highly skewed, and even more so for the value distributions of the EPO patent families. The value of patent rights increases with the economics size of the country and has a modestly increasing returns to scale. Model estimation also reveals significant institutional differences across different EPO member countries in patent protections and quantifies them.

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Bibliographic Info

Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 0513.

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Length: 38 pages
Date of creation: Aug 2005
Date of revision:
Handle: RePEc:smu:ecowpa:0513

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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 Patents; Private Value of Patents; Patent Renewal; Patent Application;

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References

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  1. Deng, Yi, 2005. "A Dynamic Stochastic Analysis of International Patent Application and Renewal Processes," Departmental Working Papers 0515, Southern Methodist University, Department of Economics.
  2. 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.
  3. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  4. Jean O. Lanjouw & Ariel Pakes & Jonathan Putnam, 1996. "How to Count Patents and Value Intellectual Property: Uses of Patent Renewal and Application Data," NBER Working Papers 5741, National Bureau of Economic Research, Inc.
  5. 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.
  6. 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.
  7. repec:fth:harver:1473 is not listed on IDEAS
  8. Pakes, Ariel & Pollard, David, 1989. "Simulation and the Asymptotics of Optimization Estimators," Econometrica, Econometric Society, vol. 57(5), pages 1027-57, September.
  9. 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.
  10. 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.
  11. Mark Schankerman, 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 77-107, Spring.
  12. Francesca Cornelli & Mark Schankerman, 1999. "Patent Renewals and R&D Incentives," RAND Journal of Economics, The RAND Corporation, vol. 30(2), pages 197-213, Summer.
  13. Lanjouw, Jean Olson, 1998. "Patent Protection in the Shadow of Infringement: Simulation Estimations of Patent Value," Review of Economic Studies, Wiley Blackwell, vol. 65(4), pages 671-710, October.
  14. Lanjouw, Jean O & Pakes, Ariel & Putnam, Jonathan, 1998. "How to Count Patents and Value Intellectual Property: The Uses of Patent Renewal and Application Data," Journal of Industrial Economics, Wiley Blackwell, vol. 46(4), pages 405-32, December.
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Citations

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Cited by:
  1. de Rassenfosse, Gaétan & van Pottelsberghe de la Potterie, Bruno, 2010. "The role of fees in patent systems: Theory and evidence," CEPR Discussion Papers 7879, C.E.P.R. Discussion Papers.
  2. Hussinger, Katrin & Schwiebacher, Franz, 2013. "The value of disclosing IPR to open standard setting organizations," ZEW Discussion Papers 13-060, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Hottenrott H. & Czarnitzki D. & Hall B.H., 2014. "Patents as quality signals? The implications for financing constraints on R&D," MERIT Working Papers 013, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  4. Yi Deng, 2003. "A Dynamic Stochastic Analysis of International Patent Application and Renewal Processes," Computing in Economics and Finance 2003 189, Society for Computational Economics.
  5. Carlos J. Serrano, 2011. "Estimating the Gains from Trade in the Market for Innovation: Evidence from the Transfer of Patents," NBER Working Papers 17304, National Bureau of Economic Research, Inc.
  6. Deng, Yi, 2005. "The Effects of Patent Regime Changes: A Case Study of the European Patent Office," Departmental Working Papers 0512, Southern Methodist University, Department of Economics.
  7. 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.
  8. Dietmar Harhoff & Karin Hoisl & Bruno Van Pottelsberghe, 2009. "Languages, Fees and the International Scope of Patenting," Working Papers ECARES 2009_016, ULB -- Universite Libre de Bruxelles.
  9. Deng, Yi, 2005. "Renewal Study of European Patents: A Three-country Comparison," Departmental Working Papers 0514, Southern Methodist University, Department of Economics.
  10. Charlotta Grönqvist, 2009. "The private value of patents by patent characteristics: evidence from Finland," The Journal of Technology Transfer, Springer, vol. 34(2), pages 159-168, April.

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