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<p>Firms strategically manage their intellectual property rights through patent renewal decisions. Given the high uncertainty surrounding technology and innovation management, we suggest that firms are more likely to renew patents with greater technological opportunity or those technologically relevant to their existing patent portfolio. Moreover, an interaction effect between technological opportunity and relevance exists, such that firms are more inclined to renew their patents when both conditions are present. Further, the extent to which technological relevance influences the likelihood of patent renewal is amplified when a firm’s technology portfolio is more fragmented. Analyzing a sample of 4,685 firms that made renewal decisions from 1985 to 2024 and over 1.4&#xa0;million patents granted in the U.S., this study provides novel insights into the factors driving strategic technology management.</p>

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Patent renewals in the strategic management of intellectual property rights

  • 期刊论文

  • 发表日期：

    2026年8月3日

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  • Jung H. Kwon,
  • H. Dennis Park,
  • Shu Deng

摘要

Firms strategically manage their intellectual property rights through patent renewal decisions. Given the high uncertainty surrounding technology and innovation management, we suggest that firms are more likely to renew patents with greater technological opportunity or those technologically relevant to their existing patent portfolio. Moreover, an interaction effect between technological opportunity and relevance exists, such that firms are more inclined to renew their patents when both conditions are present. Further, the extent to which technological relevance influences the likelihood of patent renewal is amplified when a firm’s technology portfolio is more fragmented. Analyzing a sample of 4,685 firms that made renewal decisions from 1985 to 2024 and over 1.4 million patents granted in the U.S., this study provides novel insights into the factors driving strategic technology management.