Patent Text Based Innovation-industry Classification System

James Driver

CES Technical Notes Series from Center for Economic Studies, U.S. Census Bureau

Abstract: This project benefitted the U.S. Census Bureau by the creation of novel, dynamic and data-driven innovation-industry classification systems (i.e., IICSs). The goal of these classification systems is to track a firm’s endogenous choice of innovation and be able to assign it to one, or more, innovation-industries through time. To capture and measure a firm’s innovative output, it is proposed to categorize a firm by its portfolio of patent abstracts from granted, USPTO utility patents where the firm is the original assignee. The idea is to capture the firm responsible for the innovation and to observe the area(s) in which it is innovating. A benefit of utilizing granted patents is that it allows one to compare public and private firms, and their roles in innovation.

Keywords: BERD; LBD; CMF; USPTO (search for similar items in EconPapers)
Date: 2026-07
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