Changes of Technological Knowledge Diversification within a Group of Inventors and Patent Value Corresponding to Technology Lifecycle

Abstract

Innovation is essential for firm’s survival. Managing technological diversification is a key issue in creating innovation. There are many studies analyzing the relationship between a firm’s technological diversification and its performance using patent data. However, although a patent is typically held by a group of inventors, few studies consider such groups, and the impact of technological knowledge diversification within a group of inventors on patent value is unclear. In addition, while it is generally said that firms tend to fall into the “competency trap it is uncertain whether the same phenomenon can be observed within a group of inventors. Therefore, we attempt to analyze changes of knowledge diversification within a group of inventors and patent value corresponding to the stages of technology lifecycle. Our results suggest that the competency trap can be observed within a group of inventors.