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Academic Inventors, Technological Profiles and
Patent Value:An Analysis of Academic Patents owned by
Swedish based firms
Evangelos Bourelos, PhDUniversity of Gothenburg
Daniel Ljungberg, LecturerUniversity of Gothenburg
Maureen McKelvey, ProfessorUniversity of Gothenburg
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Academic Patents
Patent Value
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ContributionAcademic vs Non-Academic Patents, owned by a firm
University
Corporate
Patents
Academic Patents
Non-Academic Patents
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Focus on firm-owned patentsAcademic patents= At least 1 academic
inventor
Value= Citations
Academic PatentsNon-Academic Patents
Corporate
Patents
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Academic Patenting in SwedenProfessor’s privilege80% owned by firms
Patent ValueSweden Italy France
0
2
4
6
8
10
4.2 3.9 3.9
Academic Inventors as % of total professors
Lissoni et al. 2008
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Research nature and patent valueBasic vs Applied Research
Applied Resear
ch
Basic Resear
ch
Academic
Inventors
Firms
Focus on short-term returnsAcademic patents – higher long-term value
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University-Industry CollaborationAcademic
Inventors
Inclination to science based
patents
Long-term value
Firms
Involve academics in
patents leading to immediate
returns
Short-term
Academic Patents VS
Non-academic Patents
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Hypothesis 1
The effect of academic inventors on the value of firm-owned patents is differentiated over time, with an expected disadvantage in the short-term and an expected advantage in the long-term
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Type of collaboration
Technology
University-Industry Collaboration
Patent
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Core technology patents
Core: high resource
commitment by firm,
competitive advantage to
that technology
Non-core patents
Non-core patents
Non-core patents
Non-core patents
Higher patent valueLowe
r patent value
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Hypothesis 2
Patents belonging to firms 'core technologies have higher value, as compared to patents in non-core technologies
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Effect on academic patent’s valueAcademic inventor
Patent value
Technological profile
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Effect on academic patent’s valueAcademic inventor
Patent value
Technological profile
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Hypothesis 3
Controlling for whether patents belong to the core technologies of firms decreases the effect of academic inventors on patent value
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Data
Firm owned academic and non academic
patents
PATSTAT-KITeS 1978-2009
Swedish inventor
Swedish patents
Firm-owned
Firm data (Orbis,
etc)KEINS/APE-INV
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Dependent variables
Patent value: Total number of forward citations
Short-term patent value: The number of forward
citations within the first 3 years
Long-term patent value: The number of forward citations received after the first three
years
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Independent variables• Binary 1/0• 1 if at least one academic
inventor
Academic
Inventors
• Binary 1/0• 1 if a patent is part of the
firm’s core technologies (Grandstrand et al. 1997)
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Control variablesBackward patent citationsNon-patent referencesNumber of inventorsIPC classesFirm dummiesPriority year dummiesDummies for technological class
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Descriptive statistics
0 5 10 15 20 25 300
1
2
3
4
5
6
Average citations/patent by age
Non-AcademicAcademic
Patent Age in Years
Cita
tion
s/pa
tent
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Descriptive statisticsNon-academic patents Academic patents Difference % z-test P >
|z|
Short-term 0.93 0.82 -11.83* 0.0860
Long-term 1.37 1.48 8.03 0.2453
Total 2.30 2.30 0 0.9682
Table 3. Forward patent citations (FPCs) by inventorship: Mean citations per patent.
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Econometric results Short-term citations Long-term citations Total (1) (2) (3) (4) (5) (6) FPC<3 FPC<3 FPC>3 FPC>3 FPC FPC +Core +Core +CoreAcademic inventor
-0.193*** -0.137* -0.139** -0.0791 -0.140** -0.0888
(0.0722) (0.0720) (0.0581) (0.0584) (0.0557) (0.0557)Core technology
0.420***
0.431***
0.405***
(0.0322) (0.0320) (0.0273)BPC 0.0334*** 0.0368*** 0.0188*** 0.0222*** 0.0216*** 0.0252*** (0.00756) (0.00726) (0.00629) (0.00626) (0.00535) (0.00525)NPR 0.258*** 0.250*** 0.121*** 0.112*** 0.190*** 0.182*** (0.0357) (0.0353) (0.0361) (0.0361) (0.0302) (0.0301)#Inventors 0.0763*** 0.0711*** 0.0674*** 0.0610*** 0.0725*** 0.0671*** (0.0106) (0.0105) (0.0107) (0.0107) (0.00904) (0.00901)#IPC classes 0.147*** 0.161*** 0.135*** 0.152*** 0.136*** 0.151***
(0.0139) (0.0140) (0.0128) (0.0129) (0.0113) (0.0113)Firm dummies included*** included*** included*** included*** included*** included***
Priority year included*** included*** included*** included*** included*** included***
OST7 included*** included** included*** included** included*** included***
Constant -0.940*** -1.217*** 0.835*** 0.578*** 0.943*** 0.692*** (0.167) (0.172) (0.128) (0.130) (0.118) (0.118)Observations 16,053 16,053 16,053 16,053 16,053 16,053
Negative Binomial regressions
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Econometric resultsShor
t-term valu
e
Academic
Inventor
Short-
term valu
e
Academic
Inventor
Core
-0.193***
-0.137* 0.420***
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Econometric resultsLong
-term valu
e
Academic
Inventor
Academic
Inventor
Core
Long-
term valu
e
-0.139**
-0.0791 0.431***
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Econometric resultsPaten
t value
Academic
Inventor
Academic
Inventor
CorePaten
t value
-0.140**
-0.0888 0.405***
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ConclusionsAcademic patents have higher long-term
value
Academic patents, owned by firm (and not comparing ownership), have lower short-term value but similar long-term
Firms might seek collaboration for short-term returns
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ConclusionsPatent value is heavily dependent on
technological profile of the firmCore patents have higher valueTechnological profile an important control
when assessing academic patentingAcademic involvement per se is not adequate
to evaluate the patent valueTechnological profile and furthermore the
collaboration type has to be assessed
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THANKS
Questions?