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Why Small Technology Firms are Producing More High Impact Patents - And How Resources Such as IEEE Help Small Firms Compete

To learn more about subscribing to IEEE Xplore, please visit www.ieee.org/innovate. A fascinating trend has emerged in the area of patent production. A recent study by 1790 Analytics shows that small firms are producing a larger percentage of emerging technology patents given their participation in the patent system. For example: while small firms in the U.S. represent less than 2% of all Computer Hardware patents, they account for almost 12% of all of the Computer Hardware patents considered likely to contain leading edge technology. What's driving the small firm's patent success? That is the topic of the attached research paper, " IEEE Referencing By Small Technology Firms ". Below is a summary of the paper's findings. The key to small firm patent success: scientific articles A common denominator among many high impact patents is the referencing of scientific articles. (This use of leading edge science suggests that small firms tend to get more patents for new inventions rather than incremental improvements, which often reference prior patents.) Within several major technology areas, including telecommunications, semiconductor manufacturing, computer software and hardware, small firm patents reference more scientific articles on average than large firms, with IEEE journal papers and conference papers comprising the bulk of these articles. In fact, small firm patents reference about twice as many IEEE articles on average as large firms. Here's another statistic worth noting: fully 61% of the science references from patents in Computer Hardware appeared in IEEE journals or IEEE-sponsored conferences. Similar results were found in other high tech categories such as Telecommunications, Robotics, Software, and Optics and Information Storage. Scientific referencing also enhances patent performance Not only do small firm patents tend to have greater technological impact on average than larger firm patents, they generally score higher in a variety of metrics, from citation impact to patent originality. These metrics have been used for a number of years to gauge interesting technology and often correlate to inventor awards, increases in contravention revenues, stock price appreciation and other major accomplishments. IEEE plays a role in leading edge innovation It is well known that IEEE is an important science base for patents most likely to become leading edge innovations. The breaking news is the extent to which small firms are using IEEE publications and meeting with tremendous success. This doesn't mean all patents linked to science will be groundbreaking, but there is compelling evidence that patents that build …