How Valuable is Patent Protection? Estimates By Technology Field Using Patent Renewal Data

Mark A. Schankerman

33 citations0/0 files storedNational Bureau of Economic Research

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Intellectual Property and Patents Intellectual Property Law Firm Innovation and Growth

Abstract

This paper presents quantitative estimates of the private value of property rights conferred by patent protection for different technology fields and countries of ownership.The measures are derived from parametric estimation of a model of patent renewal, using a new data set on patent renewals in France during the period 1969-1987.The results show that patent protection is a significant, but not the major, source of private returns to inventive activity and that its importance varies sharply across technology fields.The paper quantifies the equivalent subsidy to R&D generated by the patent system, characterizes variations in the value of patent rights across technology fields, countries of ownership and time, and explores the determinants of those differences.

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References

1987Appropriating the Returns from Industrial Research and Development 1994Qualitative Response Models: A Survey 1981Imitation Costs and Patents: An Empirical Study 1987R&D, Patents, and Productivity 1986Patents as Options: Some Estimates of the Value of Holding European Patent Stocks 1986Estimates of the Value of Patent Rights in European Countries During the Post-1950 Period 1985Patents as Information Transfer Mechanisms: To Patent or (Maybe) Not to Patent 1974The Economic Impact of the Patent System--A Study of the British Experience.

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