Introduction Recently, a friend of mine published a paper modeling PCT applications as “real options.”1 Patents are classic examples of “real options,” and I was reminded of a paper of mine in which I model patents as “an option to sue.” Understanding this modeling strategy provides a helpful framework for understanding certain aspects of patent […]
Ocean Tomo Chief Economist
Separating Patent Value From Uncertainty: Its Impact on Patent Litigation, Risk Mitigation, and Bargaining Position
Patent litigation is a high-stakes arena where the value of intellectual property and the uncertainty surrounding it collide. In October I will be presenting a paper at Northwestern University, which delves into this complex interplay.1 The paper employs an innovative approach to use patent litigation data as a means of exploring patent value and uncertainty […]
The Caitlin Clark Effect, Salaries and Name, Image, Likeness in the WNBA
In May 2024, Caitlin Clark, the standout Iowa Hawkeyes point guard, joined the Indiana Fever. Her rookie debut coincided with an almost 200% increase in viewership for the WNBA1—the so- called “Caitlin Clark Effect.” Of course, Clark is not personally responsible for the spike. Other rookie players such as Angel Reese and Cameron Brink drew […]
The Alice Decision and Uncertainty in IP
In other Ocean Tomo Insights posts, I have discussed uncertainty in the intellectual property system. In the patent system, one of the sources of uncertainty is the question of validity. A recent publication by my former colleagues in the Office of the Chief Economist at the US Patent and Trademark Office addresses uncertainty that resulted […]
AI & IP: Who Profits from Productivity Increases?
Introduction Artificial intelligence (AI) has become a hot topic, and its potential to boost productivity has captured the attention of economists, computer scientists, and managers. A groundbreaking study conducted by economists from Stanford and MIT sheds light on the impact of generative AI (GAI) on worker productivity.1 In this article, I explore the study’s primary […]
Factors Influencing the Legal Quality of Patents
As I mentioned in a previous blog post, different aspects of patent quality are affected by different actors in the patent system. Improving patent quality requires careful examination of the various policy levers available to different actors. For instance, the US Patent and Trademark Office (USPTO) is bound by the statutes set forth by Congress. […]
Exploring the Policy Levers that Impact Patent Quality
During my tenure at the US Patent and Trademark Office, the agency engaged in its Enhanced Patent Quality Initiative. To effectively improve patent quality, it was important to understand the various policy “levers” that might influence quality (and of course to understand what we mean by quality, as I discussed here). What levers are available […]
Insights from Ocean Tomo, a part of J.S. Held Chief Economist on Intellectual Property Economics
The Ocean Tomo Intellectual Property Economics™ resource center supports business decision-making focused on creating, managing, and monetizing company intangible assets. By understanding the factors that impact the economics of IP, companies can manage risk and make more informed decisions around whether to develop in-house, in-license, or acquire via M&A technologies important to the commercial success […]