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Symposium: Frontiers Of Intellectual Property: Commentary: Valuable Patents Redux: On The Enduring

Name
Symposium: Frontiers Of Intellectual Property: Commentary: Valuable Patents Redux: On The Enduring
Cite
85 Tex. L. Rev. 1769
Year
2007
Bluebook cite
John R. Allison & Thomas W. Sager, Symposium: Frontiers Of Intellectual Property: Commentary: Valuable Patents Redux: On The Enduring Merit Of Using Patent Characteristics To Identify Valuable Patents, 85 Tex. L. Rev. 1769 (Jun. 2007)

Author
John R. Allison & Thomas W. Sager
URL
85 TXLR 1769

Item Type
article
Summary
... Adelman and DeAngelis's primary empirical contentions regarding the unsuitability of patent characteristics for identifying valuable patents are: (1) the distribution of the value of patents is highly skewed, with most having little or no value and only a relatively small portion having any value at all; (2) the distributions of the several patent characteristics (called "patent metrics" by Adelman and DeAngelis) often viewed as indicators of value are skewed, thus rendering them unreliable as relevant value metrics; (3) Valuable Patents' findings of differences in the characteristics of litigated and unlitigated patents that are statistically significant does not mean that the differences are of a practically significant magnitude; and (4) the "base-rate" problem, which may occur when attempting to predictively identify a small subset of a population, prevents Valuable Patents' results from having any predictive power. ... In the large population study, Allison et al. were forced to use the same National Bureau of Economic Research (NBER) database of patents that Adelman and DeAngelis use in their article because there is no other available database containing such a large number of patents with some usable patent characteristics. ... Adelman and DeAngelis's criticisms regarding practical significance and the base-rate problem relate to all types of variables and potentially to both the univariate and multivariate analyses. ... First, we observe that the objective of logistic regression is to estimate the probability that a patent is litigated, given its values for the set of predictors shown in Table 5.

Excerpts and Summaries

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