DOI: 10.5176/2251-2038_IE13.02
Authors: Niaz KAMMOUN and Jean-Sébastien LANTZ
Abstract: Investors and academics agree that intellectual assets are strategic factors in creating value-added for companies [1 – 2]. However, due to difficulties of considering these intangible assets in financial and accounting statements, they are rarely presented on corporate balance sheets [3].
In this context, the patent and its renewal are important ways for the company to claim a portion of its value in terms of intangible assets by giving them legal status and possibly a book value [4 – 5]. Thus, patents and renewals signal the appropriate use of financial resources invested notably in research and development departments.
Based on a sample of 22,700 European patents, our research contributes to existing literature by two relevant outcomes. The first contribution propose possible definition of a European patent`s life-cycle: abandonment of procedure, natural abandonment, and late withdrawal. The second contribution shows two main factors which influence the renewal or the abandonment of a European patent by examining delivery time and the cumulative number of citations.
Keywords: patent renewal, abandonment, life-cycle, valuation, intellectual property, delivery term, patent citations, claims
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