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Patent value indicators: Case of emerging wind energy markets

The rapid rise in clean energy initiatives has seen wind energy take center stage in renewable energies. A study of patent data of emerging wind energy players shows interesting trends in emerging technologies with a possibility to identify fast moving new entrants. The market value of patents is extremely skewed. This paper aims to confront patent value indicators for established wind energy players. The value indicators are measured using forward citation analysis, patent family size and International Patent Classification. The most important wind energy technologies and possible new entrants are determined using consultancy reports and interviews with experts. The value indicators are determined using the patenting activity of Siemens Wind and Vestas using the EPO Worldwide PATSTAT database. Technology managers can use these indicators for measuring the strength of patents. These indicators can provide basis for patent pricing and licensing. Furthermore, finding commercially valuable patents earlier can help business managers to formulate technology strategies and improve their decisions.