EconStor >
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim >
ZEW Discussion Papers >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/44985
  
Title:The market value of blocking patent citations PDF Logo
Authors:Czarnitzki, Dirk
Hussinger, Katrin
Leten, Bart
Issue Date:2011
Series/Report no.:ZEW Discussion Papers 11-021
Abstract:There is a growing literature that aims at assessing the private value of knowledge assets and patents. It has been shown that patents and their quality as measured by citations received by future patents contribute significantly to the market value of firms beyond their R&D stocks. This paper goes one step further and distinguishes between different types of forward citations patents can receive at the European Patent Office. While a patent can be cited as non-infringing state of the art, it can also be cited because it threatens the novelty of patent applications ('blocking citations'). Empirical results from a market value model for a sample of large, R&D-intensive U.S., European and Japanese firms show that patents frequently cited as blocking references have a higher economic value for their owners than patents cited for nonblocking reasons. This finding adds to the patent value literature by showing that different types of patent citations carry different information on the economic value of patents. The result further suggests that the total number of forward citations can be an imprecise measure of patent value.
Subjects:Market Value
Patents
Citations
Patent Value
JEL:O31
O34
O38
Persistent Identifier of the first edition:urn:nbn:de:bsz:180-madoc-31661
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

Files in This Item:
File Description SizeFormat
656455268.pdf338.31 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/44985

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.