Corporate Value Creation through Patent Governance Structures

The main aim of this article is therefore, to investigate what and why different types of value have been created through different patent governance structures. The study examines patent strategies of 31 companies that use five main patent governance structures (co-ownership, in-licensing, out-licensing, cross-licensing, patent pools) on regular basis. The value created through applying these governance structures is then analysed according to four categories: embedded in individuals, embedded in systems and structures, market and non-market. The analysis demonstrates that the value created by any of five governance structures can be situated in any of these four categories. It also empirically confirms that there is a relationship between the governance structures companies choose and the type of value they seek.