Testing patent value indicators on directly observed patent value—An empirical analysis of Ocean Tomo patent auctions

Evaluating Determinant Priority of License Fee in Biotech Industry

“…Past research has tended to concentrate only on the factors of one type of technology provider or technology consumer [26] In the past, quantitative indicators of the number of patents have mainly been used to evaluate the value of patent information, but there has been a problem that attributes of individual patents have not been considered [27]. Sakakibara suggested that patent characteristics, such as the similarity between licensed patents and the core technology of a technology provider, the number of patents owned by a technology provider, and the number of patents applied by a technology consumer, are used as the determinants of the price of patent licensing [26] and several studies that suggested patent characteristics followed [25,[28][29][30][31][32][33][34][35][36].…”

“…Several studies on environmental factors conducted since Sung have highlighted the importance of the business environment of the licensee's market [25,[28][29][30][32][33][34][35]37,38].…”

“…Several studies of technical factors conducted since Sung have suggested that factors, such as the technical life cycle and stability of patent rights, are among the major factors in estimating the running royalties of biopharmaceutical technology in licensing agreements [26,[29][30][31]35,[38][39][40]; Sung believed that licensees required technological differentiation in pursuing strategic business [41]. The study of Sung et al added the quality of technology to the technology factor as the determinant affecting the value of the patent [40] and several studies have followed [8,23,28,[42][43][44][45].…”

“…The study of Sung et al added the quality of technology to the technology factor as the determinant affecting the value of the patent [40] and several studies have followed [8,23,28,[42][43][44][45]. Sakakibara added the similarity between licensed patents and the core technology of the technology provider (i.e., the ratio of the number of a licensor's patents in the same International Patent Classification (IPC) as the licensed patent to the total number of patents applied by a technology consumer), licensor patent stock (i.e., the number of patent applications by a licensor), and licensee patent stock as the determinants that affected the amount of licensing paid for technology transfer [26] and several studies have followed [19,29,32,35,39,46].…”

“…The study of Fischer and Leidinge added the number of patented countries to the environment factor as the determinant affecting patent value [35] and several studies have since followed [32,33]. Paik added transaction type as the determinant affecting technology transfer [25] and another study followed [37].…”