The Dynamics Between Forward Citations and Price of Singleton Patents

Shyam Sreekumaran Nair () and Mary Mathew ()
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Shyam Sreekumaran Nair: Institute of Management Technology Nagpur, 35 KM Milestone, Katol Road, Nagpur 441502, India
Mary Mathew: Department of Management Studies, Indian Institute of Science, Bangalore 560012, India

International Journal of Innovation and Technology Management (IJITM), 2015, vol. 12, issue 03, 1-12

Abstract: In recent years, business practitioners are seen valuing patents on the basis of the market price that the patent can attract. Researchers have also looked into various patent latent variables and firm variables that influence the price of a patent. Forward citations of a patent are shown to play a role in determining price. Using patent auction price data (of Ocean Tomo now ICAP patent brokerage), we delve deeper into the role of forward citations. The successfully sold 167 singleton patents form the sample of our study. We found that, it is mainly the right tail of the citation distribution that explains the high prices of the patents falling on the right tail of the price distribution. There is consistency in the literature on the positive correlation between patent prices and forward citations. In this paper, we go deeper to understand this linear relationship through case studies. Case studies of patents with high and low citations are described in this paper to understand why some patents attracted high prices. We look into the role of additional patent latent variables like age, technology discipline, class and breadth of the patent in influencing citations that a patent receives.

Keywords: Patent value; patent price; patent citations (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S0219877015400039

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