Are Patent Fees Effective at Weeding out Low-quality Patents?
NBER Working Paper No. 20785
The paper investigates whether patent fees are an effective mechanism to deter the filing of low-quality patent applications. The study analyzes the effect on patent quality of the Patent Law Amendment Act of 1982, which resulted in a substantial increase in patenting fees at the U.S. Patent and Trademark Office. Results from a series of difference-in-differences regressions suggest that the increase in fees led to a weeding out of low-quality patents. About 14 per cent of patents in the lowest quality decile were filtered out, and the effect was especially visible for companies with a large patent portfolio. The study has strong policy implications in the current context of concerns about declines in patent quality.
Document Object Identifier (DOI): 10.3386/w20785
Published: Gaétan de Rassenfosse & Adam B. Jaffe, 2018. "Are patent fees effective at weeding out low-quality patents?," Journal of Economics & Management Strategy, vol 27(1), pages 134-148.
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