The DOI matches its Crossref record.
The Importance of Patent Scope: An Empirical Analysis
Abstract
This article examines the impact of patent scope on firm value. I develop a proxy for patent scope based on the International Patent Classification scheme. Using a sample of 535 financing rounds at 173 privately held venture-backed biotechnology firms. I show that the breadth of patent protection significantly affects valuations. A one standard deviation increase in average patent scope is associated with a 21% increase in the firm's value. Broad patents are more valuable when substitutes in the same product class are plentiful, a finding consistent with theoretical suggestions.
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Citations
Cited by
Taxation and the International Mobility of Inventors
Akcigit, U., Baslandze, S., & Stantcheva, S. (2016) · American Economic Review · doi:10.1257/aer.20150237 · Cited by 428
Zhang, X., Xu, T., Wei, X., Tang, J., & Ordonez de Pablos, P. (2024) · Journal of Knowledge Management · doi:10.1108/jkm-10-2022-0791 · Cited by 40
Metadata
- Authors
- Lerner, J.
- Venue
- The RAND Journal of Economics
- Publisher
- Wiley
- Published
- 1994
- Volume
- 25
- Issue
- 2
- Pages
- 319
- ISSN
- 0741-6261 (ISSN-L)
- OpenAlex
- W2084110222
- Cited by
- 1,207
- References
- 0
- FWCI
- 2.52
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
