Essential Patents in Pools: Is Value Intrinsic or Induced?
CERNA Working Paper No. 2010-04
32 Pages Posted: 29 May 2010 Last revised: 21 May 2011
Date Written: April 18, 2011
Abstract
This paper analyzes empirically the value - as measured by patent citations - of a set of 1363 essential patents belonging to 9 different patent pools. We find that pooled patents receive more cites than control patents having the same characteristics but not included in a pool. This difference stems only partly from the pools’ ability to select the most cited patents. Indeed we show that being included in a pool also tends to increase the value of patents. This induced effect reflects the incentive for patent owners to join a pool. We analyze it in details in order to better understand the drivers of enhanced patent value.
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