• Knowledge Management Research
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• v.17 no.3
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• pp.161-179
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• 2016

The recent patent wars in the information technology (IT) industry demonstrate the strategic importance of IT patents in the industry. In this paper, we adopt the lens of real options to study the value of IT patents for IT firms. Specifically, we examine the relationship between IT patents and firms' market performance. We also consider the moderating effect of the innovation orientation of firms' patent portfolios (exploitative vs. explorative). Based on a large panel dataset consisting of 697 firms in US IT industries, our results suggest that the impact of IT patents on firm value (as measured by Tobin's q) is positive and significant. Further, we find that this impact varies, depending on the innovation orientation of firms' patent portfolios. IT patent portfolios with higher levels of an exploitative orientation are associated with higher firm value, compared to those with a lower exploitative orientation. This study highlights the value of employing real options theory as the underlying mechanism in understanding the impact of patents on firm valuation. Future researchers can adopt the real options lens to identify and empirically examine the role of other factors that may affect the value of patents and other investments exhibiting real option characteristics. While our paper answers some questions about the value of patents in the IT industry, it also raises a number of additional new questions. As such, we hope that it will generate more research on this important topic.

• Resources Recycling
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• v.18 no.1
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• pp.3-12
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• 2009

Oil sands are sands containing bitumen similar to crude petroleum. Oil sands had not received enough interest because of the high production cost. However, in the current record-high oil price situation, oil sands are considered as new sources for unconventional oil. In this study, patents analysis was performed for the technologies of production of synthetic crude oil from oil sands. The patents covered were open patents applied in Korea, US, Canada, Japan, Europe, and China. The patents were divided into five detailed technologies; mining and in-situ, extraction, upgrading, fuelling, and other technologies. For oil sands technologies, there have been steady patent applications, since the first patent was applied in 1969. The number of patents applied appeared to be affected by the variation of world oil price. The portion of patents applied in US and Canada was about 90% of the overall patents and it means 05 and Canada have led oil sands technologies. Mining and in-situ technologies, and extraction have been developed actively and occupied more than 77% of the overall patents. However, the number of patents applied for mining and in-situ technologies, and extraction has been constant or started to decrease since 2000. The number of patents applied for upgrading technologies increases recently and it shows the development of upgrading technologies is active now.

• 발명특허
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• v.35 no.3
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• pp.8-14
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• 2010

• Transactions of the Korean hydrogen and new energy society
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• v.18 no.4
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• pp.464-480
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• 2007

There are several methods for the hydrogen production such as steam reforming of natural gas, photochemical method, biological method, electrolysis and thermochemical method, etc. These days it has been widely studied for the hydrogen production method having low hydrogen production cost and high efficiency. In this paper, patents in the hydrogen production by steam reforming of natural gas were gathered and analyzed. The search range was limited in the open patents of USA(US), European Union(EP), Japan(JP), and Korea(KR) from 1996 to 2006. Patents were gathered by using key-words searching and extracted by filtering criteria. The trends of the patents was analyzed by the years, countries, companies, and technologies.

• Transactions of the Korean hydrogen and new energy society
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• v.18 no.1
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• pp.95-108
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• 2007

There are several methods for the hydrogen production such as steam reforming of natural gas, photocatalytic method, biological method, electrolysis and thermochemical method, etc. These days it has been widely studying for the hydrogen production method having low hydrogen production cost and high efficiency. In this paper, patents in the hydrogen production by water electrolysis were gathered and analyzed. The search range was limited in the open patents of USA(US), European Union(EP), Japan(JP), and Korea(KR) from 1996 to 2005. Patents were gathered by using key-words searching and filtered by filtering criteria. The trends of the patents was analyzed by the years, countries, companies, and technologies.

• Resources Recycling
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• v.19 no.2
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• pp.63-72
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• 2010

The patents were searched to investigate the trend of recycling technologies about plastic waste. Database was collected from WIPS site and the range of the search was limited to patents opened in U.S.A (US), European Union (EU), Japan (JP) and Korea (KR) to september 2009. In this paper, 4,795 patents were selected by investigation abstracts and the trend of the recycling technologies relating to waste plastic were investigated through the analyzing by the years, countries, companies. The patents were occupied 65% by Japan and the most of the patents were about chemical recycling. In the case of Korea, material recycling was major in the patents of waste plastic recycling.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.283-295
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• 2022

The number of citations in a patent is one of the indicators of the qualitative value of a patent. In this study, negative binomial regression model analysis was performed focusing on 47,354 US patents of 14 global top automotive makers in order to examine the major factors affecting the number of patent citations. As a result of the review, it was found that, elapsed years since filing, the number of patent claims, the number of claim letters, the number of inventors, the number of patent family countries, and the number of patent families, as well as IPC diversity, had a positive and significant effect on the number of citations. The results of this study are expected to provide a basic basis for considering the IPC diversity index together in analyzing and evaluating future patents and establishing strategies for creating excellent patents.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.169-183
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• 2019

Should a startup file for a patent subject to imitation in its quest to attract venture capital(VC) investors? Considering the US pharmaceutical biotechnology industry context, this paper attempts to answer this question by investigating the relations between the number of applied patents of startups, patent imitability, and the total amount of money the startups received as their first VC funding round. Data of 157 US-based pharmaceutical biotechnology startups founded in between 1995 and 2005 are analyzed. Empirical results from this study show that the number of applied patents is positively related to the total amount of money received at the time of the first funding round, and patent imitability is negatively related to the total amount of money received as first VC funding round. Nonetheless, the interaction term between the number of applied patents of startups and patent imitability came out as positive, raising interesting questions and implications for innovation-oriented startup entrepreneurs. The current study's empirical findings suggest that, in the pharmaceutical biotechnology sector, VC investors pay attention to the quantity and quality of the patents possessed by startups when they decide the level of funding. In particular, imitability of applied patents may not be a one-sided concept related to negative features such as the weak protectability of an invention. Rather, patent imitability may be a multi-facet element which also contains positive attractiveness of the startup's invention. Furthermore, it seems that the positive side of imitability can be augmented by the number of applied patents.

• Proceedings of the KSME Conference
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• 2003.04a
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• pp.431-437
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• 2003

KAERI has contrived 14 kinds of spacer grid shapes of its own since 1997 and applied for Korean and US patents. To date. KAERI has obtained US and Korean patents for 6 kinds of spacer grid shapes among them. Tn this study. performance test on two spacer grid shapes that are assumed to be the most effective candidates for the spacer grid of the next generation nuclear fuel in Korea was carried Qui through the mechanical/structural test and analysis. The test result has shown thai the performances of the candidates are better or not worse than that of the current spacer grid.

• Journal of Korea Technology Innovation Society
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• v.8 no.2
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• pp.860-885
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• 2005

This study relates to develop a quantitative method through which promising technology-based business items can be discovered and selected. For this study, we utilized patent trend analysis, technology-industry concordance analysis, and keyword co-occurrence analysis of US patents. By analyzing patent trends and technology-industry concordance, we were able to find out the emerging industry trends : prevalence of bio industry, service industry, and B2C business. From the direct and co-occurrence analysis of newly discovered patent keywords in the year, 2000, 28 promising business item candidates were extracted. Finally, the promising item candidates were prioritized using 4 business attractiveness determinants; market size, product life cycle, degree of the technological innovation, and coincidence with the industry trends. This result implicates that reliable discovery and selection of promising technology-based business items can be performed by a quantitative, objective and low- cost process using knowledge discovery method from patent database instead of peer review.