ORSATTI, Gianluca; STERZI, Valerio

doi:10.1080/13662716.2023.2213170

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ORSATTI, Gianluca

STERZI, Valerio

Bordeaux Sciences Economiques [BSE]

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Article de revue

Ce document a été publié dans

Industry and Innovation. 2023-05-16, vol. 31, n° 4, p. 409-443

Résumé en anglais

Patent monetisation is an important source of revenues worldwide. This activity is increasingly carried out by patent assertion entities (PAE), which are at the origin of about 40% of infringement actions filed in the United States. This paper uses an original database of US patents reporting PAE patent acquisitions. We document two key empirical facts about the presence of PAEs in the market for patents. First, PAEs build large patent portfolios and contribute significantly to patent transfers in the US. Second, their impact on follow-on innovation is, on average, negative. With a series of dynamic diff-in-diffs analyses, we estimate a significant post-transfer drop in forward citations received by patents acquired by PAEs. This drop is not immediate but takes some years to materialise. Heterogeneity tests show that our results are driven by acquisitions of old and highly cited patents, as well as by patent acquisitions by large patent aggregators.< Réduire

Mots clés en anglais

Patent assertion entities

Patent litigation

Patent trolls

Patent transfers

Patent citations

URI

https://oskar-bordeaux.fr/handle/20.500.12278/189155

DOI

http://dx.doi.org/10.1080/13662716.2023.2213170

Project ANR

Non-Practicing Entities et innovation en Europe - ANR-17-CE26-0014

Unités de recherche

Bordeaux Sciences Economiques / Bordeaux School of Economics (BSE) - UMR 6060