The valuation of patents using third-party data: the Ocean Tomo 300 Patent Index. Issue 42 (7th September 2016)

• Record Type: Journal Article
• Authors: Mauck, Nathan; Pruitt, Stephen W.
• Is Part Of: Applied economics. Volume 48:Issue 42(2016)
• Page Start: 3995
• Page End: 3998
• Publication Date: 2016-09-07
• Subjects: Market efficiency -- patent valuation -- Ocean Tomo -- market index; 7.001 -- G1 -- General Financial Markets; Economics -- Periodicals; 330
• DOI: 10.1080/00036846.2016.1150947
• Languages: English
• ISSNs: 0003-6846

Abstract

ABSTRACT: This study is the first investigation of the ability of the financial marketplace to value patent assets via exploiting the informational content of a widely quoted stock market patent index known as the Ocean Tomo 300 Patent Index (OT 300). The results suggest that the OT 300 'works, ' in the sense that the index generates buy-and-hold returns economically and statistically in excess of those of the market as a whole as well as a specially created 300-firm benchmark portfolio composed of other very liquid patent-holding firms.