That’s classified! Inventing a new patent taxonomy

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Stephen Billington and Alan J Hanna

Industrial and Corporate Change, 2021, vol. 30, issue 3, 678-705

Abstract: Innovation researchers currently make use of various patent classification schemas, which are hard to replicate. Using machine learning techniques, we construct a transparent, replicable and adaptable patent taxonomy, and a new automated methodology for classifying patents. We contrast our new schema with existing ones using a long-run historical patent dataset. We find quantitative analyses of patent characteristics are sensitive to the choice of classification; our interpretation of regression coefficients is schema dependent. We suggest much of the innovation literature should be carefully interpreted in light of our findings.

Date: 2021
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Working Paper: That's classified! Inventing a new patent taxonomy (2018)
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