Abstract
Identifying the economic value of a patent is crucial to technology management. It also facilitates the commercialization and transactions of patents. As a proxy of patent value, forward citation counting is widely used, but it takes a long time for a patent to be sufficiently cited. In this context, we suggest the first citation lag, namely the time taken until the first citation, as a proxy of patent value, as it is positively correlated with the patent value and considers the fact that important patents with a high economic value tend to receive many citations in a short space of time. We explore the influential patent attributes related to the first citation lag to build a model to predict the patent value. By using the Cox proportional hazard model on green inventory patent data, we find that patents with a shorter technology cycle time and a larger number of IPC four-digit classes, claims, patent family, and backward citations are associated with the shorter first citation lag, while a patent’s science linkage has an inverse U-shaped relationship with the first citation lag. Further, patents having an unconventional technological core have a longer first citation lag and among patents having an unconventional technological core, the presence of a novel element makes the first citation earlier. Our study is expected to help patent evaluation in the early stage of technology transfer.
| Original language | English |
|---|---|
| Pages (from-to) | 279-298 |
| Number of pages | 20 |
| Journal | Scientometrics |
| Volume | 113 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2017 Oct 1 |
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All Science Journal Classification (ASJC) codes
- Social Sciences(all)
- Computer Science Applications
- Library and Information Sciences
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What makes the first forward citation of a patent occur earlier? / Lee, Jungpyo; Sohn, So Young.
In: Scientometrics, Vol. 113, No. 1, 01.10.2017, p. 279-298.Research output: Contribution to journal › Article
TY - JOUR
T1 - What makes the first forward citation of a patent occur earlier?
AU - Lee, Jungpyo
AU - Sohn, So Young
PY - 2017/10/1
Y1 - 2017/10/1
N2 - Identifying the economic value of a patent is crucial to technology management. It also facilitates the commercialization and transactions of patents. As a proxy of patent value, forward citation counting is widely used, but it takes a long time for a patent to be sufficiently cited. In this context, we suggest the first citation lag, namely the time taken until the first citation, as a proxy of patent value, as it is positively correlated with the patent value and considers the fact that important patents with a high economic value tend to receive many citations in a short space of time. We explore the influential patent attributes related to the first citation lag to build a model to predict the patent value. By using the Cox proportional hazard model on green inventory patent data, we find that patents with a shorter technology cycle time and a larger number of IPC four-digit classes, claims, patent family, and backward citations are associated with the shorter first citation lag, while a patent’s science linkage has an inverse U-shaped relationship with the first citation lag. Further, patents having an unconventional technological core have a longer first citation lag and among patents having an unconventional technological core, the presence of a novel element makes the first citation earlier. Our study is expected to help patent evaluation in the early stage of technology transfer.
AB - Identifying the economic value of a patent is crucial to technology management. It also facilitates the commercialization and transactions of patents. As a proxy of patent value, forward citation counting is widely used, but it takes a long time for a patent to be sufficiently cited. In this context, we suggest the first citation lag, namely the time taken until the first citation, as a proxy of patent value, as it is positively correlated with the patent value and considers the fact that important patents with a high economic value tend to receive many citations in a short space of time. We explore the influential patent attributes related to the first citation lag to build a model to predict the patent value. By using the Cox proportional hazard model on green inventory patent data, we find that patents with a shorter technology cycle time and a larger number of IPC four-digit classes, claims, patent family, and backward citations are associated with the shorter first citation lag, while a patent’s science linkage has an inverse U-shaped relationship with the first citation lag. Further, patents having an unconventional technological core have a longer first citation lag and among patents having an unconventional technological core, the presence of a novel element makes the first citation earlier. Our study is expected to help patent evaluation in the early stage of technology transfer.
UR - http://www.scopus.com/inward/record.url?scp=85026532913&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85026532913&partnerID=8YFLogxK
U2 - 10.1007/s11192-017-2480-1
DO - 10.1007/s11192-017-2480-1
M3 - Article
VL - 113
SP - 279
EP - 298
JO - Scientometrics
JF - Scientometrics
SN - 0138-9130
IS - 1
ER -