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Effects of Patent Regime Changes: A Case Study of the European Patent Office
Patent system in Europe has undergone significant changes during the 1970s around the establishment of the European Patent Office (EPO), and this paper tries to quantify the influence of such policy changes on the private value of European patents. Based on the patent renewal records, the author estimates the private value of patents in Germany, France and the U.K. obtained through the EPO patenting route during the early 1980s, and compares the estimated value with the patent value in the same three countries before the establishment of the EPO, as estimated by Pakes (1986).