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Filing strategies and patent value

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  • Nicolas van Zeebroeck
  • Bruno Van Pottelsberghe

Abstract

This paper aims at contributing to the literature on the determinants of patent value. First, it puts forward a new potential class of value determinants in the form of filing strategies (encompassing filing routes and drafting styles). Second, it provides empirical evidence suggesting that these strategies are consistently and positively associated with patent value indicators. The empirical implementation relies on a unique dataset (about 250,000 patents granted by the EPO), which allows running large-scale sensitivity tests. The results reveal that the new determinants this paper puts forward –filing strategies – are the most stable of all. They also underline strong dependencies of several ‘classical’ results to the dependent variables and sampling methodologies, partly explaining several inconsistencies observed in the literature.

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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 08-016.RS.

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Length: 46 p.
Date of creation: 2008
Date of revision:
Publication status: Published by:
Handle: RePEc:sol:wpaper:08-016

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Keywords: Patent systems; Patent quality; Patent value; Filing strategies;

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References

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  1. Bruno Van Pottelsberghe & Dominique Guellec, 2002. "The value of patents and patenting strategies: countries and technology areas patterns," ULB Institutional Repository 2013/6217, ULB -- Universite Libre de Bruxelles.
  2. Cedric Schneider, 2011. "How important are noncorporate patents? A comparative analysis using patent citations data," Applied Economics Letters, Taylor and Francis Journals, vol. 18(9), pages 865-871.
  3. Cockburn, Iain & Griliches, Zvi, 1988. "Industry Effects and Appropriability Measures in the Stock Market's Valuation of R&D and Patents," American Economic Review, American Economic Association, vol. 78(2), pages 419-23, May.
  4. 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.
  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. Michael Kremer, 1997. "Patent Buy-Outs: A Mechanism for Encouraging Innovation," NBER Working Papers 6304, National Bureau of Economic Research, Inc.
  7. Kremer, Michael R., 1998. "Patent Buyouts: A Mechanism for Encouraging Innovation," Scholarly Articles 3693705, Harvard University Department of Economics.
  8. 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.
  9. Palomeras, Neus, 2003. "Sleeping patents: any reason to wake up?," IESE Research Papers D/506, IESE Business School.
  10. Christine Greenhalgh & Mark Rogers, 2007. "The Value of Intellectual Property Rights to Firms," Economics Series Working Papers 319, University of Oxford, Department of Economics.
  11. Archontopoulos, Eugenio & Guellec, Dominique & Stevnsborg, Niels & van Pottelsberghe, Bruno & van Zeebroeck, Nicolas, 2006. "When Small is Beautiful: Measuring the Evolution and Consequences of the Voluminosity of Patent Applications at the EPO," CEPR Discussion Papers 5970, C.E.P.R. Discussion Papers.
  12. Carpenter, Mark P. & Narin, Francis, 1983. "Validation study: Patent citations as indicators of science and foreign dependence," World Patent Information, Elsevier, vol. 5(3), pages 180-185.
  13. Bruno Van Pottelsberghe & Dominique Guellec, 2001. "The internationalisation of technology analysed with patent data," ULB Institutional Repository 2013/6223, ULB -- Universite Libre de Bruxelles.
  14. Suzanne Scotchmer & Jerry Green, 1990. "Novelty and Disclosure in Patent Law," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 131-146, Spring.
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  17. Nancy T. Gallini, 1992. "Patent Policy and Costly Imitation," RAND Journal of Economics, The RAND Corporation, vol. 23(1), pages 52-63, Spring.
  18. 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.
  19. William E. Griffiths & Paul H. Jensen & Elizabeth Webster, 2005. "The Effects on Firm Profits of the Stock of Intellectual Property Rights," Melbourne Institute Working Paper Series wp2005n04, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  20. F. M. Scherer & Dietmar Harhoff & J, rg Kukies, 2000. "Uncertainty and the size distribution of rewards from innovation," Journal of Evolutionary Economics, Springer, vol. 10(1), pages 175-200.
  21. Michael Kremer, 1998. "Patent Buyouts: A Mechanism For Encouraging Innovation," The Quarterly Journal of Economics, MIT Press, vol. 113(4), pages 1137-1167, November.
  22. Adam B. Jaffe & Manuel Trajtenberg & Michael S. Fogarty, 2000. "The Meaning of Patent Citations: Report on the NBER/Case-Western Reserve Survey of Patentees," NBER Working Papers 7631, National Bureau of Economic Research, Inc.
  23. 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.
  24. Scherer, F. M. & Harhoff, Dietmar, 2000. "Technology policy for a world of skew-distributed outcomes," Research Policy, Elsevier, vol. 29(4-5), pages 559-566, April.
  25. 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.
  26. Colin Webb & Hélène Dernis & Dietmar Harhoff & Karin Hoisl, 2005. "Analysing European and International Patent Citations: A Set of EPO Patent Database Building Blocks," OECD Science, Technology and Industry Working Papers 2005/9, OECD Publishing.
  27. Jean Olson Lanjouw, 1993. "Patent Protection: Of What Value and for How Long?," NBER Working Papers 4475, National Bureau of Economic Research, Inc.
  28. Bruno Van Pottelsberghe & Dominique Guellec, 2004. "Measuring the internationalisation of the generation of knowledge: an approach based on patent data," ULB Institutional Repository 2013/6269, ULB -- Universite Libre de Bruxelles.
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Citations

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Cited by:
  1. Nicolas van Zeebroeck & Bruno Van Pottelsberghe & Dominique Guellec, 2009. "Claiming more: the increased voluminosity of patent applications and its determinants," ULB Institutional Repository 2013/60726, ULB -- Universite Libre de Bruxelles.
  2. Katharine Rockett, 2009. "Property Rights and Invention," Economics Discussion Papers 663, University of Essex, Department of Economics.
  3. Gaétan de Rassenfosse & Hélène Dernis & Dominique Guellec & Lucio Picci & Bruno van Pottelsberghe de la Potterie, 2012. "The Worldwide Count of Priority Patents: A New Indicator of Inventive Activity," Melbourne Institute Working Paper Series wp2012n23, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  4. Bertoni, Fabio & Tykvová, Tereza, 2013. "Which form of venture capital is most supportive of innovation? Evidence from European biotechnology companies," FZID Discussion Papers 69-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
  5. De Rassenfosse, Gaétan & Wastyn, Annelies, 2012. "Selection bias in innovation studies: A simple test," ZEW Discussion Papers 12-012, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  6. Nicolas van Zeebroeck, 2011. "Long Live Patents: the Increasing Life Expectancy of Patent Applications and its Determinants," Review of Economics and Institutions, Università di Perugia, Dipartimento Economia, Finanza e Statistica, vol. 2(3).
  7. Andrea Schiffauerova & Catherine Beaudry, 2009. "Canadian nanotechnology innovation networks: intra-cluster, inter-cluster and foreign collaboration," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 119-146.
  8. Catherine Beaudry & Andrea Schiffauerova, 2011. "Is Canadian intellectual property leaving Canada? A study of nanotechnology patenting," The Journal of Technology Transfer, Springer, vol. 36(6), pages 665-679, December.
  9. 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, ULB -- Universite Libre de Bruxelles.
  10. Bertoni, Fabio & Tykvová, Tereza, 2012. "Which form of venture capital is most supportive of innovation?," ZEW Discussion Papers 12-018, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  11. Nicolas van Zeebroeck, 2009. "Filing strategies and the increasing duration of patent applications," Working Papers CEB 09-005.RS, ULB -- Universite Libre de Bruxelles.

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