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Under threat: potential competition, litigation and the private value of patent protection

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  • Lanjouw, Jean Olson

Abstract

This paper investigates the effect of the threat and occurrence of patent litigation on the private value of patent protection. Potential challenges are introduced into a renewal model as a factor in patentee decisions as to whether a patent is worth maintaining. The model yields testable predictions about renewal probabilities. Data for post WWII German patents support the hypothesis that the need to defend patent rights influences patentee behaviour. The paper concludes with a discussion of how this factor may be incorporated in patent value estimations and what the results imply for the interpretation of patent data.

Suggested Citation

  • Lanjouw, Jean Olson, 1992. "Under threat: potential competition, litigation and the private value of patent protection," LSE Research Online Documents on Economics 6777, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:6777
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    File URL: https://researchonline.lse.ac.uk/id/eprint/6777/
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    Cited by:

    1. Troy, Irene & Werle, Raymund, 2008. "Uncertainty and the market for patents," MPIfG Working Paper 08/2, Max Planck Institute for the Study of Societies.
    2. Jean Olson Lanjouw, 1993. "Patent Protection: Of What Value and for How Long?," NBER Working Papers 4475, National Bureau of Economic Research, Inc.
    3. 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.
    4. John Sutton, 2001. "Rich Trades, Scarce Capabilities: Industrial Development Revisited," STICERD - Economics of Industry Papers 28, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.

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    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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