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A Dynamic Stochastic Analysis of International Patent Application and Renewal Processes

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  • Deng, Yi

    ()
    (Department of Economics, Southern Methodist University)

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Abstract

This paper formulates a dynamic stochastic model to examine the joint patent application and renewal behavior under an international patent protection regime. This framework makes it possible to utilize both the cross-sectional (multi- country filing) and the time-series (patent renewal) dimensions of available international patent data to evaluate the private value of patent protection, and allows one to distinguish more aspects of patent value. The private value of European patent in the pharmacertical and the electronic industries is examined. It is found that pharmacertical patents are endowed with higher initial returns, and their holders seek protection in more countries than those of electronic patents. However, pharmaceutical patents depreciate faster than electronic patents, and consequently have lower renewal rates and shorter patent lives.

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File URL: ftp://ftp1.economics.smu.edu/WorkingPapers/2005/Deng/stochpatent_nov05.pdf
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Bibliographic Info

Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 0515.

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Length: 37 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:smu:ecowpa:0515

Contact details of provider:
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: Patent Application; Patent Renewal; EPO;

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References

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  1. 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.
  2. 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.
  3. McFadden, Daniel, 1989. "A Method of Simulated Moments for Estimation of Discrete Response Models without Numerical Integration," Econometrica, Econometric Society, vol. 57(5), pages 995-1026, September.
  4. 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.
  5. 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.
  6. Richard C. Levin & Alvin K. Klevorick & Richard R. Nelson & Sidney G. Winter, 1988. "Appropriating the Returns from Industrial R&D," Cowles Foundation Discussion Papers 862, Cowles Foundation for Research in Economics, Yale University.
  7. 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.
  8. 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.
  9. Samuel Kortum, 1995. "Research and productivity growth: theory and evidence from patent data," Finance and Economics Discussion Series 95-2, Board of Governors of the Federal Reserve System (U.S.).
  10. 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.
  11. 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.
  12. 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.
  13. Deng, Yi, 2005. "Renewal Study of European Patents: A Three-country Comparison," Departmental Working Papers 0514, Southern Methodist University, Department of Economics.
  14. 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.
  15. Deng, Yi, 2005. "Private Value of European Patents," Departmental Working Papers 0513, Southern Methodist University, Department of Economics.
  16. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
  17. 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.
  18. 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.
  19. Pakes, Ariel & Pollard, David, 1989. "Simulation and the Asymptotics of Optimization Estimators," Econometrica, Econometric Society, vol. 57(5), pages 1027-57, September.
  20. repec:fth:harver:1473 is not listed on IDEAS
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Citations

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Cited by:
  1. Harhoff, Dietmar & Hoisl, Karin & Reichl, Bettina & van Pottelsberghe de la Potterie, Bruno, 2007. "Patent Validation at the Country Level - The Role of Fees and Translation costs," Discussion Papers in Business Administration 2073, University of Munich, Munich School of Management.
  2. Bessen, James, 2008. "The value of U.S. patents by owner and patent characteristics," Research Policy, Elsevier, vol. 37(5), pages 932-945, June.
  3. Rudyk, Ilja, 2013. "Deferred Patent Examination," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 416, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  4. Jinyoung Kim, 2010. "Patent Portfolio Management of Sequential Innovations," Discussion Paper Series 1005, Institute of Economic Research, Korea University.
  5. Rudyk, Ilja, 2012. "The License of Right, Compulsory Licensing and the Value of Exclusivity," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 415, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  6. 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.
  7. Deng, Yi, 2005. "Private Value of European Patents," Departmental Working Papers 0513, Southern Methodist University, Department of Economics.

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