A Longitudinal Study of Patent Application and Patent Expiration: An Evolutionary Perspective
碩士 === 國立嘉義大學 === 生物事業管理學系研究所 === 100 === Patents are important knowledge assets that contribute firms to defend rivals and earn the returns in competitive environment. Additionally, firms can signal their R&D capabilities through patent application and thereby enhance the value perceived by mar...
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| Format: | Others |
| Language: | en_US |
| Published: |
2012
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| Online Access: | http://ndltd.ncl.edu.tw/handle/14875334494715664676 |
| Summary: | 碩士 === 國立嘉義大學 === 生物事業管理學系研究所 === 100 === Patents are important knowledge assets that contribute firms to defend rivals and earn the returns in competitive environment. Additionally, firms can signal their R&D capabilities through patent application and thereby enhance the value perceived by market investors. However, previous studies do not consider firms enhance value from patent expiration. To maintain the legal rights of patents, firms must regularly pay renewal fees which burden R&D investment. A large amount patents may induce stockholders concern about firms’ future cash flow. So firms cautiously expire patents which cannot benefit them anymore is necessary. This study argues that firms should enhance their value from a sequence of patent application and expiration. This study draws on evolutionary theory to explain how firms dynamically proceed with patent application and expiration and thereby improve market value. The result is based on publicly biotechnology firms in U.S. This study hopes to provide useful information for firms to undertake R&D planning.
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