• Knowledge Management Research
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• v.11 no.1
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• pp.65-81
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• 2010

This paper explores the determinants of the economic value of patents using a survival time analysis. The analysis is based on renewal information of about 250,000 patents filed from 1984 to 2005 in the Korea Intellectual Property Office. A patent right is valid only when its owner pays yearly maintenance fees. Failure to pay causes patent rights to be lapsed. We use the fact that more valued patents live longer and the lengths of their renewals can be closely related to their value. The value can be affected not only by its own technological aspects such as quality and breadth, but also by characteristics of its owners such as innovativeness and age. This paper presents patent-specific and firm-specific characteristics which influence patent value. The result of analysis implies that patent value depends on both the technological contents of the patent and general capabilities of a firm.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.65-79
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• 2021

The purpose of this study was to research how emotional factors affect decision-making on the maintenance and abandonment of a patent, and to present new criteria for patent policies. The types of Korean patent abandonment were analyzed according to the patent holding period, and a questionnaire survey was carried out to verify whether there are differences among patentees in terms of sunk cost bias, endowment effect, and coupling or not. Individuals and small and medium-sized enterprises showed relatively greater emotional bias toward sunk cost and endowment effect than large companies, and the sunk cost effect decreased as decision-making experience increased. In addition, the reduction in the payment cycle of the patent renewal fee has a positive effect on the increase in the willingness to use the patent right, and the individuals and small and medium-sized enterprises has a greater synergistic effect than the case of large companies, in particular. This study are expected to play a part in establishing policies to minimize wasteful factors of patent assets based on the propensity of the patentees.

• Journal of Intelligence and Information Systems
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• v.28 no.2
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• pp.147-170
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• 2022

Although the number of patent which is one of the core outputs of technological innovation continues to increase, the number of low-value patents also hugely increased. Therefore, efficient evaluation of patents has become important. Estimation of patent lifespan which represents private value of a patent, has been studied for a long time, but in most cases it relied on a linear model. Even if machine learning methods were used, interpretation or explanation of the relationship between explanatory variables and patent lifespan was insufficient. In this study, patent lifespan (number of renewals) is predicted based on the idea that patent lifespan represents the value of the patent. For the research, 4,033,414 patents applied between 1996 and 2017 and finally granted were collected from USPTO (US Patent and Trademark Office). To predict the patent lifespan, we use variables that can reflect the characteristics of the patent, the patent owner's characteristics, and the inventor's characteristics. We build four different models (Ridge Regression, Random Forest, Feed Forward Neural Network, Gradient Boosting Models) and perform hyperparameter tuning through 5-fold Cross Validation. Then, the performance of the generated models are evaluated, and the relative importance of predictors is also presented. In addition, based on the Gradient Boosting Model which have excellent performance, Accumulated Local Effects Plot is presented to visualize the relationship between predictors and patent lifespan. Finally, we apply Kernal SHAP (SHapley Additive exPlanations) to present the evaluation reason of individual patents, and discuss applicability to the patent evaluation system. This study has academic significance in that it cumulatively contributes to the existing patent life estimation research and supplements the limitations of existing patent life estimation studies based on linearity. It is academically meaningful that this study contributes cumulatively to the existing studies which estimate patent lifespan, and that it supplements the limitations of linear models. Also, it is practically meaningful to suggest a method for deriving the evaluation basis for individual patent value and examine the applicability to patent evaluation systems.

• Journal of Life Science
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• v.25 no.9
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• pp.1072-1079
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• 2015

The lees of Korean traditional wine called as Jubak or Sul-jigemi in Korea is byproduct from alcohol fermentation industry, which is remnant of fermentation broth after filtration, centrifugation, distillation, or sedimentation during aging. Since, Korean traditional wines are produced from edible plant sources such as rice, foxtail millet, fruits and medicinal herbs with nuruk (a traditional fermentation starter and starch degrader), the Jubak from rice wine (takju), medicinal herb wine (yakju) and fruits wine are considered as safe byproduct and have various useful bioactivity. Considering the recent rapid increased production of Jubak from takju industry, and the reinforcement of dispose of Jubak as waste material in worldwide, the development of efficient reuse process for Jubak is necessary in traditional wine industry. In this review, the status of current industry, research and patent trends in relation with Jubak production, treatment, utilization and renewal was analyzed and different bioactive compounds including phenolic acids from Jubak were provided. Jubak is not any more waste material, and is the source of bioactive functional materials for food, cosmetics and medicinal industry. To develop the efficient and economic renewal technology including recovery process for bioactive substances from Jubak, systematic collaboration and research among the industry, academy and government is necessary.