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A ranking of the value of patents granted by legal protection

Author

Listed:
  • Simona Tenaglia

    (ISFOL, Institute for the Development of Training for Workers)

  • Marco Ventura

    (ISAE, Institute for Studies and Economic Analyses)

Abstract

This paper aims at ranking the value of legal patent protection among countries, using the real options approach. In particular, we manage to overcome the problem of the lack of data for those countries that do not collect patent renewal data. The econometric technique we propose is well grounded in economic theory, specifically in the real options literature. Following this estimation strategy, we rank the value of legal patent protection for seventeen countries, closely reproducing other rankings based on surveys, for instance the PatVal survey by the EU Commission (2006), but relying on macro data publicly available and easy to access.

Suggested Citation

  • Simona Tenaglia & Marco Ventura, 2009. "A ranking of the value of patents granted by legal protection," Economics Bulletin, AccessEcon, vol. 29(4), pages 2896-2907.
    • Handle: RePEc:ebl:ecbull:eb-09-00393
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I4-P42.pdf
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    More about this item

    Keywords

    Legal protection; intellectual property; real option; value of patent.;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior

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