Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Dynamics of the Transfer and Renewal of Patents

Contents:

Author Info

  • Carlos J. Serrano

Abstract

This paper explores a new dataset of transfers of patents recorded at the United States Patent and Trademark Office. The aim of the paper is twofold. First, a number of patterns are presented. For instance, the probability of a patent being traded monotonically decreases as a function of its age except at the renewal dates. Immediately after renewal, this probability discontinuously increases. Among patents of the same age, the probability of being traded and the probability of being renewed is increasing in the total number of citations received. Moreover, previously traded patents, and especially the recently traded, are more likely to be traded and less likely to be allowed to expire than patents not previously traded. Second, the paper extends Pakes and Schankerman\\'s patent renewal framework in order to develop a model of the transfer and renewal of patents. Two new key features of the model are motivated by the patterns documented: gains from reallocating patents to more productive firms and costs of adopting technology.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.economics.utoronto.ca/public/workingPapers/measuringtransfers_paper.pdf
File Function: Main Text
Download Restriction: no

Bibliographic Info

Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-227.

as in new window
Length: 68 pages
Date of creation: 11 Mar 2006
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-227

Contact details of provider:
Postal: 150 St. George Street, Toronto, Ontario
Phone: (416) 978-5283

Related research

Keywords: Markets for Technology; Patents; Transfer of Patents;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Pakes, A. & Ericson, R., 1990. "Empirical Implications Of Alternative Models Of Firm Dynamics," Papers, Yale - Economic Growth Center 594, Yale - Economic Growth Center.
  2. Rafael Silveira & Randall Wright, 2006. "Liquidity and the Market for Ideas," 2006 Meeting Papers, Society for Economic Dynamics 77, Society for Economic Dynamics.
  3. Grossman, Sanford J & Hart, Oliver, 1985. "The Cost and Benefits of Ownership: A Theory of Vertical and Lateral Integration," CEPR Discussion Papers, C.E.P.R. Discussion Papers 70, C.E.P.R. Discussion Papers.
  4. 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, Wiley Blackwell, vol. 46(4), pages 405-32, December.
  5. Hall, B. & Jaffe, A. & Trajtenberg, M., 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," Papers, Tel Aviv 2001-29, Tel Aviv.
  6. Ajay Agrawal & Rebecca Henderson, 2002. "Putting Patents in Context: Exploring Knowledge Transfer from MIT," Management Science, INFORMS, INFORMS, vol. 48(1), pages 44-60, January.
  7. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  8. Hall, Bronwyn H & Griliches, Zvi & Hausman, Jerry A, 1986. "Patents and R and D: Is There a Lag?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 265-83, June.
  9. Lee Branstetter & Yoshiaki Ogura, 2005. "Is Academic Science Driving a Surge in Industrial Innovation? Evidence from Patent Citations," NBER Working Papers 11561, National Bureau of Economic Research, Inc.
  10. Frank R. Lichtenberg & Donald Siegel, 1987. "Productivity and Changes in Ownership of Manufactoring Plants," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3), pages 643-684.
  11. Boyan Jovanovic & Peter L. Rousseau, 2002. "Mergers as Reallocation," NBER Working Papers 9279, National Bureau of Economic Research, Inc.
  12. Mitchell, Mark L. & Mulherin, J. Harold, 1996. "The impact of industry shocks on takeover and restructuring activity," Journal of Financial Economics, Elsevier, Elsevier, vol. 41(2), pages 193-229, June.
  13. Joshua S. Gans & David H. Hsu & Scott Stern, 2008. "The Impact of Uncertain Intellectual Property Rights on the Market for Ideas: Evidence from Patent Grant Delays," Management Science, INFORMS, INFORMS, vol. 54(5), pages 982-997, May.
  14. Ricardo J. Caballero & Adam B. Jaffe, 1993. "How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth," NBER Chapters, in: NBER Macroeconomics Annual 1993, Volume 8, pages 15-86 National Bureau of Economic Research, Inc.
  15. Jaffe, Adam B & Trajtenberg, Manuel & Henderson, Rebecca, 1993. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 108(3), pages 577-98, August.
  16. Evans, David S., 1986. "Tests of Alternative Theories of Firm Growth," Working Papers, C.V. Starr Center for Applied Economics, New York University 86-36, C.V. Starr Center for Applied Economics, New York University.
  17. Anton, James J & Yao, Dennis A, 2002. "The Sale of Ideas: Strategic Disclosure, Property Rights, and Contracting," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 69(3), pages 513-31, July.
  18. Acs, Zoltan J & Audretsch, David B, 1988. "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, American Economic Association, American Economic Association, vol. 78(4), pages 678-90, September.
  19. repec:fth:harver:1473 is not listed on IDEAS
  20. Graff, Gregory D. & Rausser, Gordon C. & Small, Arthur Adams, 2001. "Agricultural biotechnology's complementary intellectual assets," CUDARE Working Paper Series, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy 925, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
  21. Griliches, Zvi, 1992. " The Search for R&D Spillovers," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 94(0), pages S29-47, Supplemen.
  22. Gans, Joshua S. & Stern, Scott, 2003. "The product market and the market for "ideas": commercialization strategies for technology entrepreneurs," Research Policy, Elsevier, Elsevier, vol. 32(2), pages 333-350, February.
  23. Ariel Pakes, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," NBER Working Papers 1340, National Bureau of Economic Research, Inc.
  24. Anand, Bharat N & Khanna, Tarun, 2000. "The Structure of Licensing Contracts," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 48(1), pages 103-35, March.
  25. Boyan Jovanovic & Peter L. Rousseau, 2002. "The Q-Theory of Mergers," NBER Working Papers 8740, National Bureau of Economic Research, Inc.
  26. 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.
  27. Holmes, Thomas J & Schmitz, James A, Jr, 1996. "Managerial Tenure, Business Age, and Small Business Turnover," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 14(1), pages 79-99, January.
  28. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, American Economic Association, vol. 79(5), pages 957-70, December.
  29. Dunne, Timothy & Roberts, Mark J & Samuelson, Larry, 1989. "The Growth and Failure of U.S. Manufacturing Plants," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 104(4), pages 671-98, November.
  30. Andrade, Gregor & Stafford, Erik, 2004. "Investigating the economic role of mergers," Journal of Corporate Finance, Elsevier, Elsevier, vol. 10(1), pages 1-36, January.
  31. Nancy T. Gallini, 1992. "Patent Policy and Costly Imitation," RAND Journal of Economics, The RAND Corporation, vol. 23(1), pages 52-63, Spring.
  32. 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.
  33. Scherer, F M, 1982. "Inter-Industry Technology Flows and Productivity Growth," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 627-34, November.
  34. Anton, James J & Yao, Dennis A, 1994. "Expropriation and Inventions: Appropriable Rents in the Absence of Property Rights," American Economic Review, American Economic Association, American Economic Association, vol. 84(1), pages 190-209, March.
  35. Fernando Leiva B., 2006. "Pricing Patents through Citations," 2006 Meeting Papers, Society for Economic Dynamics 834, Society for Economic Dynamics.
  36. Adam B. Jaffe & Manuel Trajtenberg, 1996. "Flows of Knowledge from Universities and Federal Labs: Modeling the Flowof Patent Citations Over Time and Across Institutional and Geographic Boundari," NBER Working Papers 5712, National Bureau of Economic Research, Inc.
  37. Ashish Arora, 1995. "Licensing Tacit Knowledge: Intellectual Property Rights And The Market For Know-How," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 4(1), pages 41-60.
  38. Aghion, P. & Tirole, J., 1993. "On the Management of Innovation," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 93-12, Massachusetts Institute of Technology (MIT), Department of Economics.
  39. Lerner, Josh & Merges, Robert P, 1998. "The Control of Technology Alliances: An Empirical Analysis of the Biotechnology Industry," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 46(2), pages 125-56, June.
  40. Aghion, Philippe & Tirole, Jean, 1994. "The Management of Innovation," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 109(4), pages 1185-1209, November.
  41. Ariel Pakes & Zvi Griliches, 1980. "Patents and R and D at the Firm Level: A First Look," NBER Working Papers 0561, National Bureau of Economic Research, Inc.
  42. Katz, Michael L & Shapiro, Carl, 1986. "How to License Intangible Property," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 101(3), pages 567-89, August.
  43. 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.
  44. Lanjouw, Jean Olson, 1998. "Patent Protection in the Shadow of Infringement: Simulation Estimations of Patent Value," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 65(4), pages 671-710, October.
  45. Ashish Arora & Andrea Fosfuri & Alfonso Gambardella, 2004. "Markets for Technology: The Economics of Innovation and Corporate Strategy," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262511819, December.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:tor:tecipa:tecipa-227. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (RePEc Maintainer).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.