citations, family size and the number of technical fields covered by the patent are modestly informative for value. Software … issued by the European Patent Office (EPO) and the US Patent and Trademark Office (USPTO). We find that Tobin's q is … positively and significantly associated with R&D and patent stocks, but that only those patents taken out in both patent offices …

computer software industry. We focus on two key aspects: patent portfolio size which affects bargaining power in patent … disputes, and the fragmentation of patent rights (.patent thickets.) which increases the transaction costs of enforcement. We … find evidence that both strategic patenting and Ramp;D spillovers strongly affect innovation and market value of software …