nep-ipr New Economics Papers
on Intellectual Property Rights
Issue of 2019‒11‒25
three papers chosen by
Giovanni Ramello
Università degli Studi del Piemonte Orientale “Amedeo Avogadro”
  1. Market Value of Patents: Evidence from the US, 1976-2017 By Jihong Lee; Hyunkyeong Lim
  2. Decentralising the Patent System By de Rassenfosse, Gaetan; Higham, Kyle
  3. Trademarks as an indicator of regional innovation: Evidence from Japanese prefectures By Joern Block; Christian Fisch; Kenta Ikeuchi; Masatoshi Kato
  1. By: Jihong Lee; Hyunkyeong Lim
    Abstract: Since the 1980s, the US has experienced a surge in patenting and R&D. To better understand the phenomena, we explore the evolution of the mar- ket value of knowledge capital with a novel firm-level dataset. While the importance of R&D has steadily declined, the market value of patents made a large and sustained gain in the new millennium. An additional patent per million dollars of R&D improves firm value by 11% in the latest decade compared to 3% three decades ago. The increased patent rents are driven largely by young firms, suggesting a positive role of the US patent system.
    Keywords: Innovation; ?rm value; patent; R&D
    JEL: O31 O34 O38 G30
    Date: 2019–01
    URL: http://d.repec.org/n?u=RePEc:snu:ioerwp:no105&r=all
  2. By: de Rassenfosse, Gaetan; Higham, Kyle
    Abstract: This paper proposes a substantive re-think of the modern patent system. The patent system has come under intensive criticism in the past, and many scholars have proposed ways to improve it. Ideas for improvement include, e.g., prior-art bounties, contracting out examination and dynamic fee setting. However, many of these ideas have gone unheeded due to the cost of administering them and the rigidity of the patent system. We explore how distributed ledger technologies enable these major changes.
    Date: 2019–09–04
    URL: http://d.repec.org/n?u=RePEc:osf:socarx:qzmf8&r=all
  3. By: Joern Block (Faculty of Management, Trier University / Erasmus School of Economics (ESE) and Erasmus Institute of Management (ERIM), Erasmus University Rotterdam); Christian Fisch (Faculty of Management, Trier University / Erasmus School of Economics (ESE) and Erasmus Institute of Management (ERIM), Erasmus University Rotterdam); Kenta Ikeuchi (Research Institute of Economy, and Trade and Industry (RIETI)); Masatoshi Kato (School of Economics, Kwansei Gakuin University)
    Abstract: Regional science has long been concerned with measuring the spatial distribution of innovation activity. While patents are frequently used as an indicator of regional innovation, we introduce trademarks as an additional indicator. Specifically, we explore the spatial distribution of trademark applications using a detailed and comprehensive dataset of 47 Japanese prefectures from 1999 to 2012. In addition to mapping differences in trademarks across regions, we identify correlates at the regional level that provide initial insights into potential determinants of regional innovation. For example, regional trademark activity is positively associated with regional entrepreneurship and with strong private service and finance sectors. Overall, our results reveal associations unique to trademarks that patent-based measures of innovation cannot uncover. With these results, we contribute to research in regional science and to the evolving literature on trademarks of this discipline.
    Keywords: Trademarks; regional innovation; Japan; prefectures; spatial distribution; patents.
    JEL: L80 O34 O53 R12
    Date: 2019–11
    URL: http://d.repec.org/n?u=RePEc:kgu:wpaper:200&r=all
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