Unveiling the Patent Potential: An Investigation into willing-to- license Patents

Worldwide patent explosion also results in a large percentage of unused patents. A relevant portion of them were subjected to unsuccessful commercialization attempts (e.g. through licensing). While these willing-to-license patents represent a missing opportunities for companies, they also entail an untapped potential, which is increasingly recognized by policy makers, for creating new ventures, jobs and social wealth. Accordingly, several countries have defined public maneuvers to encourage licensing practices, i.e. through the Licenses of Right (LOR) option. By endorsing a patent as LOR, patent assignees express their willingness to license patents. Our study, using the UK IPO-LOR data by specific top assignees, showcases differences between the willing-to-license and the remaining cohort of patents, which allows identifying peculiar traits of the patent exploitation strategy of the companies.