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

Colorado College Working Paper No. 2007-05

19 Pages Posted: 7 Jul 2007  

Daniel K. N. Johnson

Colorado College - Department of Economics and Business

Katherine A. Sneed

Colorado College - Department of Economics and Business

Multiple version iconThere are 2 versions of this paper

Date Written: 2007

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 Classification: O31, O32, O33, O34

Suggested Citation

Johnson, Daniel Kent Neil 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: https://ssrn.com/abstract=997869 or http://dx.doi.org/10.2139/ssrn.997869

Daniel Kent Neil Johnson (Contact Author)

Colorado College - Department of Economics and Business ( email )

14 E Cache La Poudre Street
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 )

14 E Cache La Poudre Street
Colorado Springs, CO 80903
United States

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