دانلود رایگان مقاله لاتین اثر حفاظت از ثبت اختراعات بر ارزش بازار شرکت از سایت الزویر
عنوان فارسی مقاله:
اثر حفاظت از ثبت اختراعات بر ارزش بازار شرکت: مورد بخش انرژی تجدید پذیر
عنوان انگلیسی مقاله:
The effect of patent protection on firms’ market value: The case of the renewable energy sector
سال انتشار : 2017
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بخشی از مقاله انگلیسی:
2. Literature review
2.1. Patent studies in the renewable energy industry Patents are usually regarded as a proxy measure for the level of innovation or technological knowledge [7,8,50-52]. This perspective is also reflected in patent studies about the renewable energy industry, and these studies can be divided into four research streams: technological changes and trends, technology transfer, network analysis, and government policy. Because patents imply technological knowledge [53,54], many prior studies use patents to examine innovation trends in renewable energy. Wong et al. [9] utilize patents to investigate innovation patterns in lowcarbon energy systems in emerging Asian economies, and Wong et al. [10] use patents to illustrate patterns in technological accumulation. Furthermore, Tsai et al. [11] demonstrate the development of offshore wind technology in East Asian countries using patents granted. The effect of the patent system on technology transfer in renewable energy has also been explored [12,13], finding little impact. In the case of network analysis, patent citation networks are considered as the knowledge flows between countries or organizations that have those renewable technologies [14]. In this case, a few nodes in the company, country, and technology fields have multiple links, and other nodes have very few links [4,15]. Other studies examine the relationship between government policy and the development of renewable energy using patent data. Zhao et al. [16] employ a patent analysis to indicate which policies promote advances in the use of solar power energy in China. Studies on the member countries of the Organization for Economic Cooperation and Development (OECD) show that government policies are applied more effectively in a country if it has a large number of patents with high innovation capability [13,17]. These perspectives indicate that patent is an important issue for the renewable energy industry. However, although considerable literature shows the importance of patent [55,56], only a small proportion explores the relationship between patent protection and its effect on a firm's market performance, especially in the renewable energy industry. Renewable energy companies invest a considerable amount of capital in building the initial infrastructure and developing intellectual property, for which the initial investment has a long payback period [1,2,18]. Therefore, if the technology developed by the company is infringed or invalidated by other companies, it will lose its significant investment in the development of technology in terms of both monetary value and time. Thus the ability to protect their patents is an important issue for renewable energy companies as they try to maintain their value. 2.2. Patent protection and economic value of patent protection Patent protection has received attention in previous studies, but mostly in other industries. These studies examine the issue from two different perspectives: how long patents can be protected (the patent renewal perspective) and the extent to which a patent should be protected (the patent scope perspective). Patent renewal perspective has been found to have a positive effect on R & D development. Schankerman [19] uses patent renewal data to measure patent protection and argues that higher patent protection positively affects incentives in R & D, depending on the technology [19]. In addition, an optimal patent policy for the patent length and patent scope is needed to properly reward innovators [20]. It has also been found that the scope of the patent protection serves as a catalyst for early announcement of innovative inventions [21]. In addition, it has been found that a broad scope and short-lived patents are the most efficient for social welfare [22]. In addition, a few studies examine the relationship between patent protection and corporate value by measuring the ability to protect patent protection from patent litigation. Lerner [23] examines the impact of patent scope on the value of venture capital–backed biotechnology start-ups. He uses patent IPC (International Patent Classification) codes for calculating patent breadth, which he proxies as patent protection. He argues that the broader the patent protection scope is, more significant its effect will be on firm value [23]. However, the authors of this paper did not use patent protection as a concept to defend patent litigation or to protect technology rights. In this study, we use backward citation of patents and patent family size as a measure of patent protection. This is because previous studies show that patents that do not cite prior articles are more likely to be invalidated, and patents with fewer backward citations are more likely to be subject to patent infringement litigation [5,24]. Therefore, the number of backward citations included in the patent plays an important role in protecting the patent from patent infringement lawsuits. The size of a patent family permits an inventor to apply for patents and protect the right to technology in several countries at once [25]. However, patent family size has not been seriously considered as a proxy for patent protection, although it is a good indicator of a firm's level of patent protection. Popp [26] uses patent family size as a measure of technological quality to estimate the relationship between increasing knowledge assets and renewable energy investment across 26 OECD countries from 1991 to 2004. This paper argues that the protective strategy, though registering more countries, increases per capita investment in the renewable energy sector at the national level [26]. In this paper, we define patent protection as the ability to defend against invalid patent litigation and to protect technology rights by using backward citation and patent family size. Using this concept, we examine the effect of patent protection on the market value of a company.
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کلمات کلیدی:
Economic value of intellectual property - United States Patent and ... https://www.uspto.gov/sites/default/files/aia.../ipp-2011nov08-ukipo-2.pdf by BH Hall - 2009 - Cited by 11 - Related articles Jun 10, 2009 - individuals, that is, in the protection of those rights via Intellectual Property Rights. (IPR). ... In principle, the existence of secondary markets for patent .... value of a firm is enhanced when it cites others' patents that have cited its ... Measure of R&D success and market value of firms in the U.S. ... www.freepatentsonline.com/article/Journal-International-Business.../229220661.html They find the market value of a firm has higher correlation with patent citation counts ... Thus patent citations in a longer term better measure the ex-post value of ... Estimates of Patent Rents from Firm Market Value by James E. Bessen ... https://www.ssrn.com/abstract_id=912661 by JE Bessen - 2007 - Cited by 92 - Related articles Bessen, James E., Estimates of Patent Rents from Firm Market Value (November 1, 2007). Boston Univ. School of Law Working Paper No. 06-14. Available at ...
