• Journal of Korea Technology Innovation Society
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• v.21 no.3
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• pp.1127-1154
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• 2018

This paper aims to contribute to estimating the value of a patent by explaining the unobservable attributes of patent quality using observable patent citation indices. The paper first constructs patent citation data and identifies firm, university, and research institute among assignees, and then tries to explain attributes of patent quality using backward citation indices. Backward citation indices carrying information about technological sources which a given patent is based on turn out to be good predictors of forward citation indices carrying information about attributes of patent quality. Finding the functional relationships between attributes of patent quality and backward citations will lead to the improved estimation and prediction of patent value. It is found out that backward citation indices are strongly correlated the technological diversity of a patent. The paper also suggests that with whom an organization chooses to collaborate affects the attributes of patent quality.