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analysis are adopted in this study in order to characterize patents and answer the following two questions: (1) what are the characteristic differences between litigated patent and non-litigated patent, (2) how a patent's characteristic influences the

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In recent years, firms have increased their use of internal and external knowledge through intermediaries. Knowledge brokers match buyers and sellers in the technology marketplace as well as connect and combine existing knowledge. We discuss how financial incentives in the technology marketplace can address challenges to open innovation, and how the marketplace could make individual inventors essential contributors. And then, we identify the key determinants of intellectual-property auction bids and different characteristics of auctioned and non-auctioned patents. Relevance, the scope of patents, and other factors suggested in the literature impact patent auctions, as mediated by knowledge brokers.

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number of relevant patents. Therefore, the economic literature systematically relies upon indicators of patent quality. Indicators are quantitative patent characteristics that are easily observable and are thought to reflect their social value

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Tobit-scale parameter. Thus to summarise the procedure, we have to do the following: 1. Calculate the patent value based on the renewal formula Eq. 1 . 2. Use a Tobit-model to regress this value on a set of explanatory patent characteristics

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. Scientometrics 82 1 175 – 183 10.1007/s11192-009-0080-4 . Cockburn , I , Kortum , S , Stern , S 2003 Are all patent examiners equal? Examiners, patent characteristics, and litigation outcomes W Cohen S

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