Citations, family size, opposition and the value of patent rights

We combine estimates of the value of patent rights from a survey of patent-holders with a set of indicator variables in order to model the value of patents. Our results suggest that the number of references to the patent literature as well as the citations a patent receives are positively related to...

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Bibliographic Details
Published in:Research policy 2003-09, Vol.32 (8), p.1343-1363
Main Authors: Harhoff, Dietmar, Scherer, Frederic M, Vopel, Katrin
Format: Article
Language:English
Subjects:
Indicator variables
Mathematical models
Patent rights
Patent-holders
R&D
Research & development
Studies
Valuation
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Summary:We combine estimates of the value of patent rights from a survey of patent-holders with a set of indicator variables in order to model the value of patents. Our results suggest that the number of references to the patent literature as well as the citations a patent receives are positively related to its value. References to the non-patent literature are informative about the value of pharmaceutical and chemical patents, but not in other technical fields. Patents which are upheld in opposition and annulment procedures and patents representing large international patent families are particularly valuable.
ISSN:0048-7333
1873-7625
DOI:10.1016/S0048-7333(02)00124-5