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Evaluating Patent Rights With Possible Patent Litigation

Listed author(s):
  • Deng Yi

    ()

    (University of South Florida)

Registered author(s):

    This paper examines how possible patent infringement and litigation may affect patent holders’ renewal decisions as well as our evaluation of underlying patent value. We utilize the renewal records of the EPO (European Patent Office) patents and estimate a stochastic patent renewal model in which patent holders face possible infringement and litigation costs. Estimation results indicate that when such possibilities exist, patent holders’ renewal behavior will change substantially, and our estimates of patent value based on a stochastic renewal model become significantly higher. Model simulations also reveal that the possible patent infringement and litigation, litigation costs, and patent renewal costs all play important roles in inventors’ patenting behavior.

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    File URL: https://www.degruyter.com/view/j/bejeap.2012.12.issue-1/1935-1682.2884/1935-1682.2884.xml?format=INT
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    Article provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.

    Volume (Year): 12 (2012)
    Issue (Month): 1 (March)
    Pages: 1-22

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    Handle: RePEc:bpj:bejeap:v:12:y:2012:i:1:n:11
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    1. Pakes, Ariel & Pollard, David, 1989. "Simulation and the Asymptotics of Optimization Estimators," Econometrica, Econometric Society, vol. 57(5), pages 1027-1057, September.
    2. 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.
    3. 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.
    4. James E. Bessen & Michael J. Meurer, 2006. "Patent Litigation with Endogenous Disputes," American Economic Review, American Economic Association, vol. 96(2), pages 77-81, May.
    5. Lerner, Josh, 1995. "Patenting in the Shadow of Competitors," Journal of Law and Economics, University of Chicago Press, vol. 38(2), pages 463-495, October.
    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 755-784, July.
    7. Crampes, Claude & Langinier, Corinne, 2002. "Litigation and Settlement in Patent Infringement Cases," Staff General Research Papers Archive 5231, Iowa State University, Department of Economics.
    8. repec:adr:anecst:y:1998:i:49-50 is not listed on IDEAS
    9. Jean Olson Lanjouw, 1994. "Economic Consequences of a Changing Litigation Environment: The Case of Patents," NBER Working Papers 4835, National Bureau of Economic Research, Inc.
    10. repec:adr:anecst:y:1998:i:49-50:p:08 is not listed on IDEAS
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