Original but of low value: the paradox of science-industry collaborative patents

Abstract

This article presents a comprehensive analysis of science-industry collaborative patents filed between 1978 and 2015 (granted up to 2020) at the European Patent Office (EPO) in four major European countries (Germany, France, Italy, and the UK) and in the US.We focus on three dimensions regarding patent quality: the knowledge base, the technological impact, and the economic value. Our findings reveal that, on average, science-industry collaborative patents demonstrate higher levels of sophistication and originality than other industry patents. However, they tend to have a similar impact and, depending on the measures considered, an economic value that is either comparable or lower. Furthermore, if we look at the experience of private companies when collaborating with academic institutions, we observe that more experienced collaborations tend to yield patents that are slightly less sophisticated and impactful, but which possess higher economic value. We discuss various potential explanations for these findings and their implications for future research.JEL classification: O31, O34.