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How does patent portfolio structure affect patent value in different technological environments? Evidence from Chinese high-tech industries

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  • Li, Lanhua
  • Xin, Daqi
  • Yang, Xi
  • Yu, Xiaodan

Abstract

In recent decades, races for individual patents among firms have been shifting to strategic competition based on patent portfolios. This transition underscores the importance of understanding how individual patents can be coherently integrated into a patent portfolio to enhance their value. We argue that individual patent value is not only determined by inherent patent-level characteristics but also hinges on two characteristics of patent portfolio structure—technological advantage and relatedness. Based on the patent data of Chinese listed companies in high technology industries from 2007 to 2019, we employ patent survival analysis and find that technological advantage of a patent portfolio in a specific field can increase the value of patents in the field. In addition, technological relatedness across different fields also renders higher patent value. We further document the moderating effects of two external technological environment factors. Specifically, as external technological competition intensifies, the positive effects of portfolio advantage and portfolio relatedness on patent value become stronger. Conversely, external technological opportunity richness weakens the positive relationship between technological relatedness and patent value. Our findings yield strategic insights for firms seeking to refine their patent portfolio structures in sync with technology trends.

Suggested Citation

  • Li, Lanhua & Xin, Daqi & Yang, Xi & Yu, Xiaodan, 2025. "How does patent portfolio structure affect patent value in different technological environments? Evidence from Chinese high-tech industries," Technological Forecasting and Social Change, Elsevier, vol. 215(C).
    • Handle: RePEc:eee:tefoso:v:215:y:2025:i:c:s0040162525001581
    DOI: 10.1016/j.techfore.2025.124127
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    More about this item

    Keywords

    Patent portfolio; Patent value; Portfolio advantage; Portfolio relatedness; Survival analysis; Technological environment;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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