What affects a patent's value? An analysis of variables that affect technological, direct economic, and indirect economic value: An exploratory conceptual approach

Abstract

The paper investigates three aspects of patent value - technological value, direct economic value, and indirect economic value. The paper suggests that we measure the technological value of a patent by looking at its number of citations, direct economic value by looking at its licensing and income from royalties, and indirect economic value by looking at its life (i.e., duration). For the research, the author's two previous studies are deeply explored. It is found that these three aspects of patent value are positively correlated with one another. In addition, their domains overlap and interrelate. Research collaboration is the one variable found to have a significant effect on all three aspects. The field effect of electronics positively affects technological and indirect economic value, whereas research team size negatively affects technological and indirect economic value.