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In addition, pending patents are often used by big companies for the following strategic reason. An enterprise might decide to apply for e. The other patents are used to confuse the competitors in order to not reveal the features, design etc. Pending patents, however, cannot be ignored by the competitors since they still have the potential to be granted and thus represent a patent right.
As a consequence, the pending patent might be another motive to patent that is not based on obtaining an exclusion right. These motives and the respective behavioral patterns might be a reason for the persistent high number of patent applications at the GPTO. It further provides a detailed review on the paper of Henkel and Jell Finally, it includes propositions that can be extracted from the prevailing literature.
These propositions are attempted to be proofed within the empirical part. Although the topic of additional strategic motives to patent has only received little attention in literature with regard to empirical evidence, there are some scientists that put work in finding additional values of patents. Mostly they bear on data of the examination and post-examination phase Harhoff and Reitzig Harhoff and Wagner To assess the value of a patent, legal status data is interlinked with bibliographic data e.
Some even provide value indicators for patents Reitzig All of them argue that the value of the patent and thereby of the underlying invention depends on the decision of the GPTO whether or not the patent is granted. Thus, they argue on motives based on an exclusion right. In contradiction, Henkel and Jell argue that the applicants also benefit from refused or withdrawn applications. Hence, there might exist other advantages besides the exclusion right that generates value for the applicants. Guellec and Van Pottelsberghe de la Potterie Reitzig Furthermore there are other studies that have been analyzing the patenting process at the GPTO itself in order to provide an explanation of the value of patents.
However, these studies refer on data that is based on phases inside the process that lie after the examination decision or after the application exited the process. Harhoff, et al. In the first step of their study, Henkel and Jell empirically analyzed behavioral patterns of inventors applying at the GPTO. Behavioral patterns are, e.
In addition, they explored motives that could lead to those patterns by interviewing several inventors. Such a motive could be, e. These motives might lead to further values of patent applications.
Marketing strategies for open-end real estate funds
A detailed review of the paper of Henkel and Jell and the connection to the present paper is provided in the next sections of this chapter. The following figure illustrates the process flow and shows the events that occur during the process. The process starts with the application at the GPTO. The day the application is handed in is an important date for several reasons. First of all, after application no one else is able to file for the same invention at the GPTO and thus it is destroying novelty, however, only in Germany.
Second of all, if the patent is granted later on it is retrospectively valid from the application date on. Moreover the applicant has 12 months after the application where he or she can apply for other international patents priority year , for instance at the European Patent Office EPO PatG , p. Hence, the national application secures priority and the applicant has the possibility to file for patents at other patent offices covering the same invention.
He or she gains time to clear up whether or not it is needed or worth to file subsequent applications. In order to get a patent granted the patent needs to be examined by a patent clerk. To start this inspection the applicant has to request for examination PatG , p. He or she can do so immediately when filing for the patent. However, it is also possible to wait with this request for a maximum of seven years. After the request for examination the patent is examined. An interesting issue that needs to be mentioned at this point is the opportunity the applicant has to modify the application until the date of grant.
The precondition for such a modification is that the subjectmatter of the original application will remain and will not be stretched PatG , p. Regardless of the examination lag the patent application is usually published after 18 months, except for patents that cover state secrets or patents that are actively withdrawn before publication PatG , pp.
With this publication the invention is no longer secret to the public.
International Project Management
This has several impacts. First of all, prior art is created and thus nobody else is able to get a patent granted on this invention - neither in Germany nor somewhere else in countries of the PCT Patent Cooperation Treaty.
Second, however, competitors might be able to gather information on the invention and therefore on the technological strategy of the applicant. Problems such as imitation and inventing around might arise. Hence, the publication that is involved in the patenting process secures FTO for the applicant on the costs of disclosing the invention even to competitors. Deutsches Patentamt a Bosworth and Webster Horstmann, et al. In any case the annual fees are due every year starting with the third year until the patent finally terminates in year 20 or 25 in branches like pharmaceuticals and phytopharmaceutical.
Thus, the fees have to be paid in time in order to sustain the application inside of the patent process respectively maintain the granted patent.
These annual fees are the same regardless whether the patent is granted or still pending. Hence, leaving a patent pending not requesting for examination is at the beginning less costly than submitting the request for examination immediately. Patentamt ab Several strategies concerning intellectual property management can be derived from the above described patenting process.
Chapter 3. The opportunity to profit from granted patents as an exclusion right is de facto relevant. Information papers exist that give an overview on the patenting process and that should help inventors to find their way in the patenting system Berufsbildungsund Technologiezentrum HWK Schwerin That clearly indicates the practical importance of strategic patent management. Another important issue that needs to be mentioned here is the question where and how the applicant can influence the patenting process. As already stated above the applicant has the opportunity to delay the request for examination up to seven years.
Hence, the examination lag is controlled by the applicant solely. If the GPTO receives no such request after seven years the application is deemed to be withdrawn. The time of publication can also be influenced by the applicant. The patent application is usually published after 18 months. However, the applicant can run for early publication.
Therefore, he or she needs to agree on access to records and needs to nominate the inventor. PatG , p. If the applicant has no interest in continuing the patenting process the application can be withdrawn actively which would finally terminate the process. In addition, the applicant can simply reject to pay the annual fees that are due as from the beginning of year three. With not paying the fees in time the application is deemed to be withdrawn by the GPTO which will also terminate the process.
PatG , pp. The option to file for subsequent patents will last for a period of 12 months after application. This does not necessarily have an impact on the process at the GPTO. However, the applicant might concentrate on subsequent filing instead of running the whole GPTO patenting process.
With regard to the information about the patenting process and the opportunities of influence, the following chapters enlighten several behavioral patterns of applicants during the patenting process at the GPTO. Furthermore, possible motives for these behaviors will be depicted. Based on the opportunities to affect the patenting process depicted in paragraph 3. These patterns are not completely disjunct. This pattern describes a behavior of the applicant that deals with advancing the patenting process.
As shown in chapter 3. Independent from the application the inventor needs to request for examination. For the purpose of reducing the duration of the patenting process the applicant minimizes the examination lag . To do so, he or she requests for examination as soon as possible, for instance at the application date. Hence, the examination lag is reduced to a minimum; it can even be reduced to zero. With such a behavioral pattern the applicant expedites the patenting process and thereby achieves a quick patent decision.
In addition, the inventor is eager to pay all the fees in time. Furthermore, the application contains as much information as the applicant can provide and complies with all formal requirements in order to make the patent more likely to be granted. Henkel and Jell This behavioral pattern is independent from potential subsequent filings.
As a result, with the focus on Germany, the duration of the patenting process at the GPTO is not influenced by submitted subsequent filings. Since the patent runs through the whole process, the costs for this behavioral pattern arehigher compared to others. Therefore, companies assess in advance whether or not the invention is worth to pass through the whole patenting process. Another important issue to be mentioned here is the attitude of the enterprise towards the patentability.
The full process is carried out only for patents that are likely to be granted. Henkel and Jell found that In most of these cases the application and the request for examination were submitted at the same date. Diversification in related markets The ideal construction consultancy approach for competitive advantage. Market Entry strategies of small- and medium-sized project management companies into the Brazilian construction market.
Problems in perceptions of Project Management in the Indian Construction Industry: Promoting Integration and Scope Management as a critical factors for project success. Project management office in the global real estate market: functions, tensions, critical success factors and their relation to project performance. Success factors for internationalisation strategies Engagements of German architecture and engineering companies in the Russian Federation.
Krazu Nusantara. Kommunale Haushaltskonsolidierung durch strategisches Immobilienmanagement Darstellung am Fallbeispiel Heidelberg. Projektmanagement innerhalb des Redevelopments Bauliche Erneuerung eines Objektes unter vollem Betrieb. Prozessmanagement in der Immobilienwirtschaft Strukturierung von Immobilienprozessen am Beispiel der Prozesslandschaft Projektentwicklung.
Real Estate in a Mixed Asset Portfolio
Einflussnahme von Web 2. Sustainable Building and Construction in HondurasAssessing the implementation of sustainable construction in Honduras from a business perspective. Is the investment in artificial reefs a profitable decision to prevent beach erosion as well as for the sustainable development of tourism in Mexico? An analysis of the critical success factors in corporate real estate greenfield projects in Russia for foreign investors at pre-investment stage.
Creating high performing co-located environments for enhancing collaboration in IPD projects. Strategic Management: The reasons behind client dissatisfaction in construction industry and implementation of strategic approach to improve the satisfaction level. Dargestellt am Beispiel Kroatien. Value engineering as a strategy to optimize life cycle cost of the public-private partnership projects -hospitals-. Risk Management from the view of Project Portfolio Management Use case in a decentralized corporate structure from an owner view perspective. Turnkey contracts - A client's perspective Risk mitigation with project management.
Improving the communication process between construction project management and urban planning through the digitalization of building approvals in Germany. Modern portfolio theory offers a framework to compute and optimize expected portfolio risk and return.
To assist investors with investment decisions and portfolio allocation it can be useful to classify funds in distinct categories Lee, , p. The table below shows the definition of the fund categorization. The chart below shows the average annual returns achieved and standard deviation revealed by balanced and specialist funds between and Long-income funds were not considered as for this class only one observation is available.
According to IPD a, p. The revealed relationships are in compliance with the risk and return trade-off explained above. In order to cluster funds with similar risk and return characteristics INREV classifies funds by investment styles. The first framework was developed in with target levels of internal rate of return IRR and leverage as the determinants of style. This model proved not workable as target IRRs and leverage change with market conditions. INREV published its new framework in Instead of levels of risk and return over time, the variation in returns over time should define the style a fund.
The style classification should help investors to distinguish different investment strategies and to communicate with the fund managers INREV, , p.