Patent Value Research Articles

A patent portfolio value analysis based on intuitionistic fuzzy sets: An empirical analysis of artificial intelligence for healthcare

Evaluating patent assets from the perspective of a patent portfolio is an emerging research direction and also a concrete practical example of open innovation theory, which presents the main form of encouraging more innovation entities to participate and further innovate by disclosing technological innovation information. For a better understanding of the patent portfolio value system at the quantitative level, this paper attempts to explore the relationship between the patent portfolio and the open innovation environment of industrial clusters, thus proposing a dynamic patent value evaluation method. Therefore, through focusing on the field of artificial intelligence for healthcare, this paper implements the evaluation process based on collecting relevant patent data and building an intuitionistic fuzzy set evaluation system. The evaluation results provide a value ranking for the patent portfolio, which helps decision-makers to carry out industrial patent layout planning and implement patent licensing strategies orienting to open innovation.

The Rise of Star Firms: Intangible Capital and Competition

Abstract The large divergence in the returns of top-performing star firms and the rest of the economy is substantially reduced when we account for the mismeasurement of intangible capital. Star firms produce and invest more per dollar in invested capital, have more valuable innovations as measured by the market value of patents, and are as exposed to competitive shocks as nonstars. Star firms have higher markups that are predicted early in their life cycle at a time when they are small. Overall, after we correct for the mismeasurement of intangibles, the evidence points to the superior ability of star firms.

Patent Litigation, Patent Value and the Direction of Innovation: Evidence from China

Patent Litigation, Patent Value and the Direction of Innovation: Evidence from China

Should Firms Hold More Patents? A Randomized Control Trial on the Commercial Value of Patents

Should Firms Hold More Patents? A Randomized Control Trial on the Commercial Value of Patents

Successfully operating patent digital platforms in China: A configurational perspective

AbstractThe increasing value of patents for innovation and the permeability of digital technologies have triggered patent digital platforms (PDPs) as a new business model of patent intermediaries. While current literature mainly focuses upon PDPs within a developed country, China shows unique features with a relatively unmatured patent market. This paper aims to explore conditional configurations that lead to the operational success of PDPs throughout China. The results indicate two configurational paths: “firm size driven” and “digital infrastructure and knowledge assets driven.” Furthermore, environmental factors are peripheral conditions yet important. Our findings have enriched the understanding of patent intermediaries in digital age and sheds light on PDP theory and practice.

The Sustainability of Regional Innovation in China: Insights from Regional Innovation Values and Their Spatial Distribution

As the continuous improvement of the quality of innovation becomes increasingly significant for balanced regional development in China, it is critical to provide insights into the sustainability of regional innovation in China from the viewpoint of value. This study estimates regional innovation values based on an improved regional innovation value model incorporating patent values and a regional innovation indicator system. Data for invention patents as well as regional innovation indicators in 282 cities from 1987 to 2019 in China are utilized for estimation. Based on the estimated parameters and Monte Carlo simulation, city-level innovation values are calculated as benchmarks, along with provincial and regional innovation values, to analyze the patterns of the spatial distribution and agglomeration of regional innovation value. The findings are as follows. (1) The regional innovation value model provides an effective way to measure regional innovation in terms of value. (2) The regional innovation values are unevenly distributed; cities with higher innovation values are clustered in Eastern China, while most other cities have much lower innovation values. (3) The innovation values in Eastern China are notably higher, and the differences in innovation values between Eastern China and other regions are large and show a trend of first widening and then narrowing during the sample period. (4) The sustainability of regional innovation is not widely achieved, since highly concentrated innovation value is found in only a few regions in the eastern coastal areas. These findings suggest that promoting China’s innovation capacity and the sustainable development of technological innovation requires continually implementing innovation-driven development strategies, cultivating high-value innovation, optimizing industrial transfer, improving the layout of the national research infrastructure, giving full play to spatial spillover effects, and promoting interregional innovation information exchange in order to achieve the balanced and sustainable development of regional innovation.

최적의 특허 존속기간에 관한 연구

Theoretically, the ideal term of a patent is to set up to expire when the social costs outweigh the benefits. However, given the decline in returns from patents over time and the discount rate of the annual patent value, a period of 20 years is actually quite a long time for the average inventor. In particular, considering that the product cycle in the high-tech industry is very short, it is doubtful whether the current long and uniform duration adequately reflects society's expectations, or whether the costs for access or transaction are excessively imposed. Many studies on finding the optimal patent term have discussed it as an economic point of view. Some have proposed an optimal patent policy through a combination of patent length and scope, while others have suggested adjusting the strength of patent protection through a single adjustment of the length. This paper attempts to approach this problem based on the latter. And when setting the optimal patent term, classification by industry(or by technical characteristics) should be premised. This is because, in fact, the cost of developing an invention and its benefits in terms of social welfare vary from field to field. This paper emphasizes the need to shorten the term of patents and grant differentiated terms for each category of patents, and proposes to realize these policies.

Predicting the value of Chinese patents using patent characteristics: evidence based on a Chinese patent auction

Abstract This study revisits the question of predicting patent value with observed patent statistics, exploiting a rare public auction of patents in China in which the starting prices are used as approximates of patent private value. Family size and the number of assignees come out as the most consistent indicators, while notably, forward citations turn out to be not important. This discrepancy with past studies is investigated. We propose some of the institutional features in the Chinese patent system could lead to the forward citations not as informative as their counterpart in other jurisdictions. The findings bear important implications as Chinese patent data are increasingly being used in innovation studies.

Factors influencing the patent value in reverse innovation of developing country under background of carbon neutrality

Factors influencing the patent value in reverse innovation of developing country under background of carbon neutrality

Patents as Real Options: A Sensitivity Analysis of Option Valuation Using the Binomial Model

Using the real option approach and the binomial decision tree model, patent value is discussed in terms of how patent protection gives firms flexibility in making investment decisions on whether or how to continue exploiting the underlying invention in the commercialisation phase. The results of this paper, in agreement with predictions of current financial theory, indicate that patent real option value increases when the following input factor conditions exist: increased patent asset value, longer time to the expiration of patent protection, higher interest rates, larger variability of future values of the patent asset, decreased patent commercialisation investment, and lower cost of delay in commercialisation investment decisions. Furthermore, patent real option value sensitivities are estimated for each of these input factors of the binomial decision tree model. More broadly, the paper provides a novel valuation tool for the monetary appraisal of patents and contributes to the IP literature on devising timely indicators of innovative activities.

An analysis of the key drivers of the Japanese digital therapeutics patents: A cross-sectional study.

Digital therapeutics (DTx) are software or other tools that support or implement medical practices such as disease prevention, diagnosis, and treatment using digital technology. DTx has been approved in Japan, and it is anticipated that the number of approvals will increase in the future. DTx differs from conventional medical devices in that its primary purpose is treatment. This study aims to identify the key drivers of DTx in Japan by analyzing patents in the field of medical information, including DTx. This study visualizes the results of patent analyses for DTx and examines patent applications that feature applied technology and indications in the medical information field as the key drivers. The study will also employ patent citation analysis. It can be argued that the more citations a patent receives, the more similar research and development activities are being conducted, and the greater the competition. The number of citations per patent application will also be calculated to help identify areas where the value per patent application is high and competition intensifies. A patent citation matrix analysis will be conducted for notable Japanese companies in the DTx field. The citation matrix analysis consists of the number of citations and the company's selfcitation ratio to visualize the patent value. This study investigates the key drivers of DTx by analyzing patent technologies, focusing on patent applications with a high number of citations or a high selfcitation ratio. Key drivers of digital therapeutics were examined by analyzing patents in the fields of healthcare informatics and diagnostics. In terms of the number of patent applications and citations in Japan, numerous patents were related to "applications," "sensors," "medical imaging," "central nervous system/psychiatry," and "heart." As a result, Japanese companies are expected to conduct R&D with an eye toward overseas expansion.

Which type of dynamic indicators should be preferred to predict patent commercial potential?

The current patent value evaluations increasingly focus on serving realistic predictive scenarios, emphasizing the commercial potential of patents at the early stage from the ex-ante perspective. This requirement poses a serious challenge: those classical dynamic indicators that have been proved to be effective in the literature may not be valid for commercial patent potential prediction from the ex-ante perspective. Thereupon, this study groups the dynamic indicators into cross-sectional indicators and longitudinal indicators. Then, a patent commercial potential prediction framework is proposed from the ex-ante perspective, in which the impact of the chronological order on predictive models is investigated comprehensively. More specifically, this study collects the USPTO cancer-related dataset from 2003 to 2013 as the training set, and combines three dynamic indicators (cross-sectional, longitudinal, and mixed) with classical static indicators to test the prediction performance for the following five years (2014–2018). The biased results caused by the ex-post perspective are indeed observed, and the longitudinal indicators are more sensitive to commercial patent potential, especially in the early stage. The effect of the ex-post perspective will gradually weaken over time, and the cross-sectional indicators provide stable prediction performance three years later. These findings will be helpful for subsequent improvements of commercial patent potential prediction models.

SPOR DALLARINDA SEVİNÇ RİTÜELLERİ VE BEDEN DİLİNİN ETKİLEŞİMİ: FUTBOLCULAR ÜZERİNE GÖSTERGEBİLİMSEL BİR ANALİZ

Body language, which defines the communicative and behavioral sphere of action of individuals, is an important indicator of identity. Emotional reactions that make important body language tools such as gestures and facial expressions meaningful as a form of expression in social life also shape the subject of interaction. One of the important environments in which body language is used effectively is sports struggles. Among the sports branches, football has the highest level of participation and interaction in the world. In football, the elements Deciphering clubs include songs, choreographies, mascots and symbolized stadiums. In addition to their physical structures, football abilities and achievements, football players can increase their brand values through their body language. The highest emotional moments of football are shaped by goals. There is a meaningful interaction between the joy experienced by the fans at the time of the goal and the Decency of the players. The goal joys of football players can sometimes get in the way of goals. The fact that football players have different emotional and cultural structures can also reveal different joy rituals. Joy rituals that provide motivation and relaxation on the audience can make important contributions to the brand and patent values of football players, as well as other areas such as advertising and sponsorship. Rituals are turning from a micro sociological field into interactive narratives at the level of personal brand management and side meaning. In this study, iconic photographs reflecting the joy rituals of football players are examined through semiotic analysis.

Do prosocial CEOs promote innovation?

In this study, we find robust evidence that firms with prosocial CEOs invent more. Using exogenous CEO turnovers to establish causality, we find a significant increase in the number of patents, citations per patent, and patent value when a non-prosocial CEO is replaced by a prosocial CEO. We further show that prosocial CEOs spark innovation by attracting inventors to join. Finally, we find that the impact of prosocial CEOs on innovation is more pronounced in more innovative and less eco-friendly industries.

Technological innovation and stock returns: Innovative skill versus innovative luck

AbstractPrior studies conclude that investors undervalue innovative ability. These studies do not fully capture the prominent role that industry and market trends play in contextualizing innovations. We disaggregate the value generated by innovative skill from the value generated by industry and market trends and find that innovative skill is positively associated with profitability. Further, our results are consistent with a risk explanation as innovative skill is negatively associated with returns, consistent with investors using patent value to identify innovative skill and adjusting the riskiness of the firm accordingly.

Leverage target and firm innovation

PurposeIn this paper, the author examines how capital structure (relative to target) affects firm innovation.Design/methodology/approachThe author uses cross-sectional OLS regressions (for each year of data) to determine whether a firm is above or below its target debt level (in that year) and then uses fixed effects OLS regressions with panel data to examine the impact of having leverage above or below the firm's target on its innovation activity.FindingsThe author shows that firms with below-target debt innovate more in terms of number of patents granted and have better quality innovations in terms of citation counts of patents and in terms of economic value of patents. The results hold for sample splits based on firm age, firm size and access to external finance. The author also shows that the findings are not driven by the negative correlation between leverage and innovation measures. Overall, the results indicate that it is not the actual level of leverage that impacts innovation; the relevant factor that impacts firm innovation is whether a firm is above or below its leverage target.Originality/valueThe author extends the literature on financing innovation by linking leverage target with firm innovation. Findings of this paper also provide supporting evidence that capital structure plays an important role on firm innovation and supplements prior literature that shows the importance of debt in financing firm innovation.

A Strategic Analysis of Patents for Healthcare Management

Patents related to healthcare management software and hardware have played an essential role in international competition in the healthcare field in recent years. The study aimed to conduct a strategic analysis of patents in healthcare management based on the theory of competitive strategy and expectation. The results can be an essential reference for the patent layout of healthcare-related enterprises and the promotion of the commercial value of patents. The study took the WIPS Global database as the object, adopted the keyword patent retrieval method, as well as retrieved and analysed 1,731,925 patent materials related to software and hardware for global healthcare management from 2012 to 2022. The Description, IP competitiveness, Applicant Ranking, Technical vs Market share, and Activity index of global patent abstracts were analysed. The results show that patents were divided by section as A (The number of human necessities patents is 6864, accounting for 7% of the total patents); B (performing operations & transporting, 8379, 9%); G (physics, 47340, 49%); H (electricity, 27254, 28%). The results can be used as a reference for enterprises to carry out healthcare management patent layouts and promote commercial value.

Patent Value Promotion Based on the Technology Proximity Network: An Empirical Analysis of Artificial Intelligence for Healthcare

Patent value plays an important role in the open innovation system, which can stimulate enthusiasm for research and development investment and innovation collaboration. High-value patents on artificial intelligence for healthcare can attract venture capital and encourage more enterprises to conduct research and development, thus driving the development of related industrial clusters for a smart medical system. This study focused on the mechanism of impacting the patent value from the perspective of technological proximity and made an empirical analysis by using patent data and multiple ordinary least squares regression models. The results showed that the technological proximity network extracted from patent data significantly affected patent value through the centrality measurements of patent nodes in the proximity network. Finally, the study also provided some implications for the formulation of research and development planning and technological innovation policies.

Low-carbon electricity technology transformation in Chinese universities

Purpose With the growing climate problem, it has become a consensus to develop low-carbon technologies to reduce emissions. Electric industry is a major carbon-emitting industry, accounting for 35% of global carbon emissions. Universities, as an important patent application sector in China, promote their patent application and transformation to enhance Chinese technological innovation capability. This study aims to analyze low-carbon electricity technology transformation in Chinese universities. Design/methodology/approach This paper uses IncoPat to collect patent data. The trend of low-carbon electricity technology patent applications in Chinese universities, the status, patent technology distribution, patent transformation status and patent transformation path of valid patent is analyzed. Findings Low-carbon electricity technology in Chinese universities has been promoted, and the number of patents has shown rapid growth. Invention patents proportion is increasing, and the transformation has become increasingly active. Low-carbon electricity technology in Chinese universities is mainly concentrated in individual cooperative patent classification (CPC) classification numbers, and innovative technologies will be an important development for electric reduction. Originality/value This paper innovatively uses valid patents to study the development of low-carbon electricity technology in Chinese universities, and defines low-carbon technology patents by CPC patent classification system. A new attempt focuses on the development status and direction in low-carbon electricity technology in Chinese universities, and highlights the contribution of valid patents to patent value.

Assessment and valuation of technologies, development and application of Valorativo software

PurposeAlthough Public Research Institutions (PRIs) are large technology producers, they lack automated information tools that follow technical and scientific criteria for assessing and valuing patents. The assessment and valuation processes are stages of technology transfer (TT) that make it possible to obtain productive arrangements and guide the efforts of those involved in the development, maintenance and negotiation. This study aims to analyze the hybrid model of assessment and valuation of technologies by Soares (2018), applying the ‘Valorativo' software. In addition to patent value and indicator scores, the methods allow an understanding of the technology portfolio and its management.Design/methodology/approachThis research is quali-quantitative, following an approach of applied nature and descriptive objectives. The research has bibliographical, documental and case study features based on the software development methodologies described in the study and the theoretical framework.FindingsThe Valorativo software assisted in the analysis of ten patents on PRIs. With the data collection and patent analysis, PAT1 scored highest among engineering patents, PAT3 scored highest among pharmaceutical patents and PAT10 scored highest among biotechnology patents. Five of the assessed patents resulted in a surplus of net present value (NPV), final net present value (NPVF) and royalties; revenue expectations outpaced investments.Practical implicationsThe authors based the developed software on Soares’s (2018) methodology, with additional calculations and graphs. The Web software and the spreadsheet with Visual Basic for Application (VBA) were developed to deal with the patents assessment and valuation, helping in the analysis of their Legal Value, Technological Value and Market Conditions in the assessment process, and the Discounted Cash Flow and NPV in the valuation process.Originality/valueThe software helps with patent analysis and can generate indicators for traders, technology holders and researchers. Thus, it was necessary to understand and develop a theoretical-applied framework to outline and replicate the methodology clearly and easily.