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“Measuring Patent Value Indicators with Patent Renewal Information” aims to address the research gap by constructing a dynamic model that incorporates both ex ante and ex post patent value indicators. The study focuses on a large set of pharmaceutical patents granted by the European Patent Office between 1996 and 2009. The authors test five ex ante indicators (family size, patent backward citations, backward references to non-patent literature, number of claims, number of inventors) and a single ex post indicator (forward citations) to estimate patent values.
The research findings indicate that three citation-related indicators, family size, and the number of claims are positively associated with patent values, while the number of inventors, renewal fee, patent age, and application year are negatively correlated. Forward citations also show persistent learning effects on patent values. The paper provides regression results and descriptive statistics for the patent value indicators studied.
The study suggests that citation-related indicators are more important in determining patent values, while the number of claims is the least significant among the indicators considered. The authors suggest further research to explore differences in patent policies on a country or regional level and to analyze the effects of patent portfolio size on patent values.