The value of an innovation to the innovator can change over time, especially in response to changes in the legal protection (such as patent rights) afforded the innovator. A proven-valid-and-infringed patent is a more valuable economic commodity than is an untested patent. The increase in value can be estimated using the success rate of patent lawsuits. Using a database of the outcomes of U.S. patent litigation, we find that plaintiffs win patent litigation some 45% of the time at the trial court level. This has implications both for patent damages awards and for the incentives to innovate.
CITATION STYLE
Sherry, E. F., & Teece, D. J. (2008). Royalties, evolving patent rights, and the value of innovation. In The Transfer and Licensing of Know-How and Intellectual Property: Understanding the Multinational Enterprise in the Modern World (pp. 151–164). World Scientific Publishing Co. https://doi.org/10.1142/9789812833181_0008
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