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Valuing environmental patents legal protection when data is not available

Author

Listed:
  • Simona Tenaglia

    (ISFOL - Institute for the Development of Training for Workers)

  • Marco Ventura

    (ISAE - Institute for Studies and Economic Analyses)

Abstract

This paper aims at estimating the value of legal patent protection of environment-related technologies, using the real options approach. In particular, we manage to overcome the problem of the lack of data for those countries that do not collect patent renewal data. Following this estimation strategy, we rank the value of legal patent protection for seventeen countries, closely reproducing other rankings based on surveys, for instance the PatVal survey by the EU Commission (2006), but relying on macro data publicly available and easy to access. The unit value of damage is found to be the most important determinant of the value of patents granted by legal protection.

Suggested Citation

  • Simona Tenaglia & Marco Ventura, 2008. "Valuing environmental patents legal protection when data is not available," ISAE Working Papers 103, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    • Handle: RePEc:isa:wpaper:103
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    References listed on IDEAS

    as
    1. Mansfield, Edwin & Schwartz, Mark & Wagner, Samuel, 1981. "Imitation Costs and Patents: An Empirical Study," Economic Journal, Royal Economic Society, vol. 91(364), pages 907-918, December.
    2. Paola Giuri & Myriam Mariani & Stefano Brusoni & Gustavo Crespi & Dominique Francoz & Alfonso Gambardella & Walter Garcia-Fontes & Aldo Geuna & Raul Gonzales & Dietmar Harhoff & Karin Hoisl & Christia, 2005. "Everything you Always Wanted to Know about Inventors (but Never Asked): Evidence from the PatVal-EU Survey," LEM Papers Series 2005/20, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    3. Ernst, Holger, 2001. "Patent applications and subsequent changes of performance: evidence from time-series cross-section analyses on the firm level," Research Policy, Elsevier, vol. 30(1), pages 143-157, January.
    4. Arora, Ashish & Ceccagnoli, Marco & Cohen, Wesley M., 2008. "R&D and the patent premium," International Journal of Industrial Organization, Elsevier, vol. 26(5), pages 1153-1179, September.
    5. Ashish Arora & Marco Ceccagnoli, 2006. "Patent Protection, Complementary Assets, and Firms' Incentives for Technology Licensing," Management Science, INFORMS, vol. 52(2), pages 293-308, February.
    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. Jean Olson Lanjouw, 1998. "Patent Protection in the Shadow of Infringement: Simulation Estimations of Patent Value," Review of Economic Studies, Oxford University Press, vol. 65(4), pages 671-710.
    8. Nicolas van Zeebroeck, 2011. "The puzzle of patent value indicators," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 20(1), pages 33-62.
    9. 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, vol. 46(4), pages 405-432, December.
    10. Mark Schankerman, 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 77-107, Spring.
    11. Nicholas Bloom & John Van Reenen, 2002. "Patents, Real Options and Firm Performance," Economic Journal, Royal Economic Society, vol. 112(478), pages 97-116, March.
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    More about this item

    Keywords

    value of patents; legal protection; real options; abatement technology; environmental technologies.;

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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