京都大学 大学院経済学研究科・経済学部

SEMINAR SERIES

Applied Microeconomics Seminar

Makoto Kadowaki(Specially Appointed Assistant Professor, Hitotsubashi Institute for Advanced Study, Hitotsubashi University)

Date&Time:
2024.9.13 (Fri) 10:30-12:00
Venue:
Seminar Room 108 on 1F, Faculty of Law and Faculty of Economics, East Bldg., Yoshida Campus, Kyoto University
Language:
English
Contact:
Jun Nakabayashi

(Title)

"Early Disclosure and Patent Value: How Do You Know You Are a Pioneer?"

Abstract:
While the patent system plays a dual role in promoting innovation through protection and disclosure, it is widely believed that early disclosure of a patent application weakens patent protection by enhancing knowledge spillovers. However, pre-grant publication enables early establishment of the priority of the invention, which may enhance appropriation. Using the introduction of pre-grant publication in Japan as a natural experiment, we find that early disclosure increased the rejections (and abandonments) of the subsequent duplicative patent applications by others more than the grants of their follow-on patents. As a result, the patent value significantly increased on average. Consistently, the pre-grant publication accelerated and increased the grant of one’s own follow-on inventions, more so when competition is significant. Thus, we find that pre-grant publication has a significant effect of promoting appropriation through early determination of who is a pioneer.