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Innovation Cycles and Learning at the Patent Office: Does the Early Patent Get the Delay?

Régibeau, P and Rockett, K (2010) 'Innovation Cycles and Learning at the Patent Office: Does the Early Patent Get the Delay?' Journal of Industrial Economics, 58 (2). pp. 222-246. ISSN 0022-1821

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Abstract

We study the relationship between the length of patent review and the importance of inventions. We build a simple model of the U.S. patent review process. Among the model predictions are that, controlling for a patent's position in a new technology cycle, more important innovations would be approved more quickly. Also, the approval delay is likely to decrease as an industry moves from the early stages of an innovation cycle to later stages. These predictions are in line with the evidence we obtain from a data set on U.S. patents granted in the field of genetically modified crops from 1983 to 1999. We also show that failing to account for the innovation lifecycle - as previous studies have done - is likely to bias upwards the estimates of the relationship between delay and importance.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 11 Jul 2012 15:30
Last Modified: 06 Jan 2022 13:32
URI: http://repository.essex.ac.uk/id/eprint/2861

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