Working Paper: NBER ID: w13938
Authors: Carlos J. Serrano
Abstract: This paper explores the dynamics of the transfer of U.S. patents and the significance of the initial missallocation of patent property rights. Here we find that the initial missallocation of patent property rights is large and differs substantially across patentees and technology fields. We also find that the probability of a patent being traded depends on a number of factors - the age of the patent, the number of citations received by a given age, the patent generality and whether the patent has been previously traded or not. We will also analyze and interpret this new evidence using a theoretical model of patent transfers and renewal.
Keywords: No keywords provided
JEL Codes: L1; O3
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Generality of the patent (D45) | Probability of a patent being traded (D45) |
| Generality of the patent (D45) | Probability of a patent expiring (C41) |
| Initial misallocation of patent property rights (D45) | Significant variation across patentees and technology fields (O34) |
| Age of the patent (O34) | Probability of a patent being traded (D45) |
| Number of citations received (A14) | Probability of a patent being traded (D45) |
| Previously traded patents (L14) | Probability of retraded patents (C11) |
| Previously traded patents (L14) | Probability of patents expiring (C41) |