Patent citations indicating present value of the biotechnology business
Patents form a central pathway for capturing the value of intangible assets in a knowledge-intensive business. Patents can potentially generate and support earnings in two ways : they can be traded or licensed out, and they can provide critical protection for core production technologies or products that are to be traded. Recent patent valuation literature relates backward citations to the basicness of an innovation, and forward citation counts to the economic value of an innovation. In our data covering all Finnish biotechnology patents, we found indications of only the first relation. This might reflect either an excess of a technology-orientated attitude of the companies, or a well-argued value creation mechanism that remains hidden from our research methods. The results imply that a usage of patent citation measures might provide important measures for innovation policies, technology management, and valuation of knowledge-intensive industries.
|Date of creation:||2006|
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- Lanjouw, Jean O & Schankerman, Mark, 2001. "Characteristics of Patent Litigation: A Window on Competition," RAND Journal of Economics, The RAND Corporation, vol. 32(1), pages 129-151, Spring.
- Jean O. Lanjouw & Mark Schankerman, 1999. "The Quality of Ideas: Measuring Innovation with Multiple Indicators," NBER Working Papers 7345, National Bureau of Economic Research, Inc.
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- Nikulainen, Tuomo & Pajarinen, Mika & Palmberg, Christopher, 2005. "Patents and Technological Change - A Review with Focus on the FEPOCI Database," Discussion Papers 984, The Research Institute of the Finnish Economy.
- Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000.
"Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not),"
NBER Working Papers
7552, National Bureau of Economic Research, Inc.
- Wesley M Cohen & Richard R Nelson & John P Walsh, 2003. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (Or Not)," Levine's Working Paper Archive 618897000000000624, David K. Levine.
- Vopel, Katrin & Scherer, Frederic M. & Narin, Francis & Harhoff, Dietmar, 1997.
"Citation Frequency and the Value of Patented Innovation,"
ZEW Discussion Papers
97-27, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Dietmar Harhoff & Francis Narin & Frederic M. Scherer & Katrin Vopel, 1997. "Citation Frequency and the Value of Patented Innovation," CIG Working Papers FS IV 97-26, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Ernst, Holger, 2003. "Patent information for strategic technology management," World Patent Information, Elsevier, vol. 25(3), pages 233-242, September.
- Harhoff, Dietmar & Scherer, Frederic M. & Vopel, Katrin, 2003. "Citations, family size, opposition and the value of patent rights," Research Policy, Elsevier, vol. 32(8), pages 1343-1363, September.
- Maria Luisa Mancusi, 2003.
"Geographical concentration and the dynamics of countries' specialization in technologies,"
Economics of Innovation and New Technology,
Taylor & Francis Journals, vol. 12(3), pages 269-291.
- Maria Luisa Mancusi, 2000. "Geographical Concentration and the Dynamics of Countries' Specialization in Technologies," KITeS Working Papers 125, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Aug 2001.
- Reitzig, Markus, 2004. "Improving patent valuations for management purposes--validating new indicators by analyzing application rationales," Research Policy, Elsevier, vol. 33(6-7), pages 939-957, September.
- Narin, Francis & Noma, Elliot & Perry, Ross, 1987. "Patents as indicators of corporate technological strength," Research Policy, Elsevier, vol. 16(2-4), pages 143-155, August. Full references (including those not matched with items on IDEAS)
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