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How valuable is patent protection? Estimates by technology field using patent renewal data

Schankerman, Mark (1991) How valuable is patent protection? Estimates by technology field using patent renewal data. CEP discussion paper, 46. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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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, characterises variations in the value of patent rights across technology fields, countries of ownership and time, and explores the determinants of those differences.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 1991 The Author
Library of Congress subject classification: H Social Sciences > HB Economic Theory
K Law > K Law (General)
Sets: Collections > Economists Online
Departments > Economics
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 46
Date Deposited: 06 Mar 2008 08:56
URL: http://eprints.lse.ac.uk/3736/

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