Research On The Impact Of Patent System On The Timing Decision Of Technology Licensing

In the era of global division of labor and open innovation,technology licensing has become an important way for innovative organizations to gain innovative revenue.However,the uncertainty of technology and the imperfections of the technology market often affect the timing of technology licensing activities.Therefore,when to make technology licenses becomes an important decision-making problem for innovative organizations.In recent years,more and more scholars believe that the patent system can influence the timing of technology licensing through information disclosure and intellectual property rights protection functions.Then,for China,where the intellectual property system is relatively weak and the development of the technology market is still imperfect,whether the patent system can play a role in the timing of technology licensing is an important issue that needs to be studied.In the context of the Chinese patent system,according to the patenting process of a technology,we examine the timing of technology licensing as follows: licensing between application date and disclosure date,licensing between disclosure date and grant date,and licensing after grant date.This thesis examines the impact mechanism of the patent system on the licensing time of licensing technology from the two aspects of patent system operation(disclosure delay and grant delay)and patent system reform(patent law revision).Firstly,based on the transaction cost theory and information asymmetry theory,this thesis establishes the basic model of technology licensing timing decision from the perspective of licensor,and derives the decision conditions for licensors to conduct technology licensing at different time points.Secondly,this thesis deduces the effect of patent disclosure delay and patent grant delay on the probability of technology licensing at different time points,and then proposes the theoretical proposition of the patent system delays affecting the timing of technology licensing.Finally,based on the revision of China’s third patent law in 2008,this thesis explores the mechanism of patent system reform to enhance the value of patents and increase the degree of imitation of patents,and then proposes the theoretical proposition that the reform of patent system affects the timing of technology licensing.On the basis of theoretical modeling and propositional derivation,firstly,this thesis uses the Logit regression model to empirically test the relationship between delay of the patent system and the timing of technology licensing by using the data of 32,919 invention patents applied for by the State Intellectual Property Office of China from 2001 to 2015,the results show that: First,the patent disclosure delay has a significant positive impact on the probability of licensing between the application and disclosure date,and has a significant negative impact on the probability of licensing between the disclosure and grant date,and has a significant inverted U-shaped effects on the probability of licensing after grant date.Second,the patent grant delay has a positive impact on the probability of licensing between the application and disclosure date but it is not significant;the patent grant delay has a significant positive impact on the probability of licensing between the disclosure date and grant date,and has a significant negative impact on the probability of licensing after grant date.Then,this thesis screens out 3877 articles in 2008 and 1876 invention patent license data in 2010,and analyzes the impact of patent system reform on the timing of technology licensing decision through propensity score matching analysis.It is found that the patent system reform has significant positive impacts on the probability of licensing between the application and disclosure date and the probability of licensing between the disclosure and grant date,but has a significant negative impact on the probability of licensing after grant date.This thesis theoretically clarifies the role of operation and reform of the patent system in the decision-making of technology licensing,and has important practical implications for the licensing of patent applications and the improvement of the patent system in China.