Academic Patenting vs. Industry Patenting: An in-depth analysis of what determines patent value.
Bruno Van Pottelsberghe
This paper compares corporate and academic patents and tests whether they have similar value and similar determinants of value. The empirical results based on an in-depth analysis of 400 biotech patents applied by Belgian universities and firms lead to the following observations : (i) the value distributions show similar levels of skewness for both academic and corporate patents; (ii) for the two sectors the identification of the institutional origin of knowledge allows for an improved understanding of what determines the value of patents; (iii) of particular importance is to separate self backward citations from non-self backward citations (to patent and non patent literature); (iv) the results clearly underline the crucial role of academic research as a source of knowledge spillovers, and the need to focus on researchers with a high scientific profile in order to crystallize their tacit knowledge into high value patents, for both the academic and corporate sectors.
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