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The Patent Asset Index - A new approach to benchmark patent portfolios

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  • Ernst, Holger
  • Omland, Nils

Abstract

Patent metrics are increasingly used to assess the competitive position of technology-oriented firms. Patent rankings and patent scoreboards are popular methods to benchmark patent portfolios of firms against each other. Existing rankings, however, have methodological limitations that significantly reduce the meaningfulness of these benchmarks for managers, investors and other stakeholders. In this paper, we develop a new benchmarking methodology that overcomes limitations of existing approaches and offers a more accurate assessment of a firm's patent portfolio vis-à-vis its competitors. Firms are ranked according to the Patent Asset Index, which is derived from a set of newly developed patent indicators. These indicators are empirically validated and reflect more accurately the value of patents. We apply the new benchmarking method in the global chemical industry and contrast our findings with those of other existing patent portfolio rankings.

Suggested Citation

  • Ernst, Holger & Omland, Nils, 2011. "The Patent Asset Index - A new approach to benchmark patent portfolios," World Patent Information, Elsevier, vol. 33(1), pages 34-41, March.
    • Handle: RePEc:eee:worpat:v:33:y:2011:i:1:p:34-41
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    Cited by:

    1. Julia Anna Bingler, 2022. "Expect the worst, hope for the best: The valuation of climate risks and opportunities in sovereign bonds," CER-ETH Economics working paper series 22/371, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    2. Noh, Heeyong & Song, Young-Keun & Lee, Sungjoo, 2016. "Identifying emerging core technologies for the future: Case study of patents published by leading telecommunication organizations," Telecommunications Policy, Elsevier, vol. 40(10), pages 956-970.
    3. Ardito, Lorenzo & D'Adda, Diego & Messeni Petruzzelli, Antonio, 2018. "Mapping innovation dynamics in the Internet of Things domain: Evidence from patent analysis," Technological Forecasting and Social Change, Elsevier, vol. 136(C), pages 317-330.
    4. Guijie Zhang & Guang Yu & Yuqiang Feng & Luning Liu & Zhenhua Yang, 2017. "Improving the publication delay model to characterize the patent granting process," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(2), pages 621-637, May.
    5. Guderian, Carsten C. & Posth, Jan-Alexander & Grob, Linus, 2023. "Investment decisions and passive portfolio construction utilizing patent analytics: A multi-case study on COVID-19 treatment technologies," The Quarterly Review of Economics and Finance, Elsevier, vol. 92(C), pages 66-87.
    6. Weresa Marzenna Anna, 2019. "Technological competitiveness of the EU member states in the era of the fourth industrial revolution," Economics and Business Review, Sciendo, vol. 5(3), pages 50-71, September.
    7. Lee, Pei-Chun & Su, Hsin-Ning, 2014. "How to forecast cross-border patent infringement? — The case of U.S. international trade," Technological Forecasting and Social Change, Elsevier, vol. 86(C), pages 125-131.
    8. Buggenhagen, Magnus & Blind, Knut, 2022. "Development of 5G – Identifying organizations active in publishing, patenting, and standardization," Telecommunications Policy, Elsevier, vol. 46(4).
    9. Grimaldi, Michele & Cricelli, Livio & Di Giovanni, Martina & Rogo, Francesco, 2015. "The patent portfolio value analysis: A new framework to leverage patent information for strategic technology planning," Technological Forecasting and Social Change, Elsevier, vol. 94(C), pages 286-302.
    10. Carsten C. Guderian, 2019. "Identifying Emerging Technologies with Smart Patent Indicators: The Example of Smart Houses," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(02), pages 1-24, April.
    11. Gamarra, Yanis Luca & Friedl, Gunther, 2023. "Declared essential patents and average total R&D expenditures per patent family," Telecommunications Policy, Elsevier, vol. 47(7).
    12. Markus Overdiek & Thomas Rausch & Kai Gramke, 2020. "Weltklassepatente — das „Gold“ der Wissensökonomie? [World Class Patents — The Gold of the Knowledge Economy?]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(9), pages 718-723, September.
    13. Song, Kisik & Kim, Kyuwoong & Lee, Sungjoo, 2018. "Identifying promising technologies using patents: A retrospective feature analysis and a prospective needs analysis on outlier patents," Technological Forecasting and Social Change, Elsevier, vol. 128(C), pages 118-132.
    14. Xiaodong Yuan & Weiling Song, 2022. "Evaluating technology innovation capabilities of companies based on entropy- TOPSIS: the case of solar cell companies," Information Technology and Management, Springer, vol. 23(2), pages 65-76, June.
    15. Cheng-Wen Lee & Budi Hasyim & Jan-Yan Lin, 2024. "Digital Technology for Supply Chain Management- marketing Integration," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 14(1), pages 1-4.
    16. Song, Haoyang & Hou, Jianhua & Zhang, Yang, 2023. "The measurements and determinants of patent technological value: Lifetime, strength, breadth, and dispersion from the technology diffusion perspective," Journal of Informetrics, Elsevier, vol. 17(1).
    17. Tomoko Saiki, 2015. "Information quality management of patent searches from the practical viewpoint," International Journal of Data Science, Inderscience Enterprises Ltd, vol. 1(1), pages 58-72.
    18. Benno Buehler & Daniel Coublucq & Cyril Hariton & Gregor Langus & Tommaso Valletti, 2017. "Recent Developments at DG Competition: 2016/2017," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 51(4), pages 397-422, December.
    19. Yue, Xian-Ping, 2017. "Behavior of inter-enterprises patent portfolio for different market structure," Technological Forecasting and Social Change, Elsevier, vol. 120(C), pages 24-31.

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