Patent-based measures are frequently used as indicators in empirical research on innovation and technological change. Currently, there is little evidence as to what extent patent-based indicators relate to product market outcomes. Using a unique dataset that links outcomes from product...

Patent-based measures are frequently used as indicators in empirical research on innovation and technology as well as on firms' strategies and organizational choices to characterize inventions or, more generally, innovative activities and the technological capabilities of organizations. A clear...