Title: Does the academic spin-off condition play a role in patent valuation?

Authors: Dina Pereira; João Leitão

Addresses: Centre for Aerospace Science and Technologies, University of Beira Interior (UBI), Convento de Santo António, 6201-001 Covilhã, Portugal ' Polytechnic Institute of Portalegre/Technology and Management High School, University of Beira Interior (UBI), and Centre for Management Studies, Instituto Superior Técnico (CEG-IST), Technical University of Lisbon, 1049-001 Lisboa, Portugal

Abstract: This paper assesses the extent through which some patents' attributes are related to its value when considering academic patents. We use cross-section data of two samples, namely, 281 patents from Cambridge University, UK, and 160 patents from Carnegie Mellon University, USA. By estimating a negative binomial regression model, we conclude that size of the patent family influences positively the value of the academic patent. We also find a negative influence played by the time to maturity and geographical scope. When disaggregating the results by spin-off condition, we conclude that for spin-off firms from CMU the effect of geographical scope reveals to be negative and significant. For the spin-off firms of the CAMU, on one hand, a negative and significant effect of time to maturity is verified; on the other hand, the technical field denotes a positive and significant effect on the patent's value.

Keywords: academic patents; patent families; patent value; academic spin-offs; patent valuation; Cambridge University; Carnegie Mellon University; time to maturity; geographical scope; spin-off firms; university R&D; research and development; university spin-offs.

DOI: 10.1504/IJESB.2013.053483

International Journal of Entrepreneurship and Small Business, 2013 Vol.18 No.4, pp.373 - 399

Published online: 30 Sep 2013 *

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