The Market Value of R&D, Patents and Trademarks

Sandner, Philipp G.; Block, Jorn H.

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The Market Value of R&D, Patents and Trademarks

Research Policy, Vol. 40, No. 7, pp. 969-985

57 Pages Posted: 9 Sep 2009 Last revised: 7 Nov 2014

See all articles by Philipp G. Sandner

Philipp G. Sandner

Frankfurt School of Finance & Management

Jorn H. Block

University of Trier - Faculty of Management; Erasmus University Rotterdam (EUR) - Institute of Management (ERIM)

Date Written: January 1, 2011

Abstract

This paper investigates the effects of trademarks on the market value of firms. The results show that trademarks have a positive effect on firm value. Next, the firms’ market values are regressed on indicators of trademark value such as trademark seniorities, the number of oppositions filed, and the number of product and services classes covered. We found that they at least partially reflect trademark value.

Keywords: Market valuation, Tobin’s q, Trademarks, Patents, Intellectual property, Value Indicators

JEL Classification: M31, O31, O34, G12

Suggested Citation: Suggested Citation

Sandner, Philipp and Block, Jorn Hendrich, The Market Value of R&D, Patents and Trademarks (January 1, 2011). Research Policy, Vol. 40, No. 7, pp. 969-985, Available at SSRN: https://ssrn.com/abstract=1469705