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Selling Ideas: The Determinants of Patent Value in an Auction Environment

Daniel K. N. Johnson
Colorado College - Department of Economics and Business

Katherine A. Sneed
Colorado College - Department of Economics and Business

2007

Colorado College Working Paper No. 2007-05

Abstract:
Although previous empirical studies have found relationships between patent characteristics and value, none have determined how specific attributes relate to auction value or even the probability of a successful auction sale. Using a Heckman two-step model, we regress thirteen independent variables against unique patent auction data, finding that publicly-owned and frequently referenced patents are more valuable, and that other things equal, there is an optimal time to offer a patent up for auction.

Keywords: auction, patent, citation, valuation

JEL Classifications: O31, O32, O33, O34

Working Paper Series

Date posted: July 07, 2007 ; Last revised: July 07, 2007

Suggested Citation

Johnson, Daniel K. N. and Sneed, Katherine A., Selling Ideas: The Determinants of Patent Value in an Auction Environment (2007). Colorado College Working Paper No. 2007-05. Available at SSRN: http://ssrn.com/abstract=997869

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Contact Information

Daniel Kent Neil Johnson (Contact Author) Colorado College - Department of Economics and Business ( email ) Colorado Springs, CO 80903 United States 719-389-6654 (Phone) 719-389-6927 (Fax) HOME PAGE: http://faculty1.coloradocollege.edu/~djohnson
Katherine A. Sneed Colorado College - Department of Economics and Business ( email ) Colorado Springs, CO 80903 United States