Value creation and value capture from patents: Theory and implications for patent strategies
This study uses biform game models to examine firms’ patent deployment strategies that involve a choice between appropriating a patented technology to gain a unique competitive advantage or licensing the technology to a competitor in the product market. It addresses the question of under what circum...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-07-01
|
| Series: | Journal of Innovation & Knowledge |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2444569X23000938 |
| _version_ | 1827924362758455296 |
|---|---|
| author | Xiaoyang Zhao Yuanjing Guo Jie Mi |
| author_facet | Xiaoyang Zhao Yuanjing Guo Jie Mi |
| author_sort | Xiaoyang Zhao |
| collection | DOAJ |
| description | This study uses biform game models to examine firms’ patent deployment strategies that involve a choice between appropriating a patented technology to gain a unique competitive advantage or licensing the technology to a competitor in the product market. It addresses the question of under what circumstances firms use a patent appropriation strategy over a licensing strategy, or vice versa. By incorporating competitive and cooperative settings, this study develops theory and propositions to illustrate the mechanisms by which patent deployment strategies are chosen by an innovator or follower in a product market as a function of the characteristics of innovation, transaction costs, bargaining power, strategic interactions, and other market conditions. This study contributes to the literature by distinguishing between patent appropriability and value appropriation in a transactional network under rivalry. The model and its extensions provide new insights into appropriation strategies for patent portfolios, which are important intellectual assets in a knowledge-based economy. |
| first_indexed | 2024-03-13T05:10:46Z |
| format | Article |
| id | doaj.art-42a87d2d8012473d9abe160afecd4094 |
| institution | Directory Open Access Journal |
| issn | 2444-569X |
| language | English |
| last_indexed | 2024-03-13T05:10:46Z |
| publishDate | 2023-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Innovation & Knowledge |
| spelling | doaj.art-42a87d2d8012473d9abe160afecd40942023-06-16T05:10:27ZengElsevierJournal of Innovation & Knowledge2444-569X2023-07-0183100397Value creation and value capture from patents: Theory and implications for patent strategiesXiaoyang Zhao0Yuanjing Guo1Jie Mi2Business School, Hohai University, 8 Fochengxi Road, Nanjing, Jiangsu 211100, ChinaCollege of Management and Economics, Tianjin University, 92 Weijin Road, Tianjin 300072, China; Corresponding author.College of Economics and Management, Taiyuan University of Technology, 79 Yingze West Main Street, Taiyuan, ChinaThis study uses biform game models to examine firms’ patent deployment strategies that involve a choice between appropriating a patented technology to gain a unique competitive advantage or licensing the technology to a competitor in the product market. It addresses the question of under what circumstances firms use a patent appropriation strategy over a licensing strategy, or vice versa. By incorporating competitive and cooperative settings, this study develops theory and propositions to illustrate the mechanisms by which patent deployment strategies are chosen by an innovator or follower in a product market as a function of the characteristics of innovation, transaction costs, bargaining power, strategic interactions, and other market conditions. This study contributes to the literature by distinguishing between patent appropriability and value appropriation in a transactional network under rivalry. The model and its extensions provide new insights into appropriation strategies for patent portfolios, which are important intellectual assets in a knowledge-based economy.http://www.sciencedirect.com/science/article/pii/S2444569X23000938O30O32C70 |
| spellingShingle | Xiaoyang Zhao Yuanjing Guo Jie Mi Value creation and value capture from patents: Theory and implications for patent strategies Journal of Innovation & Knowledge O30 O32 C70 |
| title | Value creation and value capture from patents: Theory and implications for patent strategies |
| title_full | Value creation and value capture from patents: Theory and implications for patent strategies |
| title_fullStr | Value creation and value capture from patents: Theory and implications for patent strategies |
| title_full_unstemmed | Value creation and value capture from patents: Theory and implications for patent strategies |
| title_short | Value creation and value capture from patents: Theory and implications for patent strategies |
| title_sort | value creation and value capture from patents theory and implications for patent strategies |
| topic | O30 O32 C70 |
| url | http://www.sciencedirect.com/science/article/pii/S2444569X23000938 |
| work_keys_str_mv | AT xiaoyangzhao valuecreationandvaluecapturefrompatentstheoryandimplicationsforpatentstrategies AT yuanjingguo valuecreationandvaluecapturefrompatentstheoryandimplicationsforpatentstrategies AT jiemi valuecreationandvaluecapturefrompatentstheoryandimplicationsforpatentstrategies |