SOTA Review

Value of patents for the innovating firm. SOTA No 18

Patents are the first choice innovation protection instrument. This SOTA Review outlines the evidence on the value of patents, the factors influencing patent value and highlights the gaps in our understanding of patent value in the UK. The focus of the review is on the value of patents to the innovating firm. It is worth noting that patents also have broader implications for societal welfare. The private value of patents is influenced by many factors (most notably by the degree of innovativeness or quality of innovation) and so these estimates also represent more than the value of the protection instrument itself.

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