The institutional sources of knowledge and the value of academic patents.

This paper puts forward new potential determinants of patent value which are mainly related to the identification of institutional sources of knowledge and the geographic scope of patenting strategy. The impact of these new indicators is evaluated through an empirical analysis that focuses on the number of forward citations received by 208 patent families applied for by six Belgian Universities. The new indicators provide a more in-depth view on the way non-patent citations, backward patent citations, co-assignees and the geographical scope for protection determine patent value. The policy implications induced by these results are the positive impact of collaboration between public research organisations and the need to focus on academic researchers with a high scientific profile in terms of publications in order to crystallize their tacit knowledge into high value academic patents.