Average patent lifespan in months over the past five years
factor.formula
Average patent lifespan in months in the past five years = Average value (number of months of valid invention patent lifespan newly granted in the five years before the end of the reporting period)
Formula Description
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The total number of valid invention patents newly authorized and passed public examination within five years before the end of the calculation period.
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The number of months of the effective life of the i-th invention patent. The specific calculation method is: if the patent has expired before the end of the reporting period, the expiration date is subtracted from the patent authorization date; if the patent is still valid at the end of the reporting period, the end of the reporting period is subtracted from the patent authorization date. The time unit is month.
factor.explanation
This factor reflects the average effective life of a company's patents and serves as an indicator of patent quality. High-quality patents usually have longer effective lives because companies invest more resources in maintenance to realize their commercial value. On the contrary, low-quality patents have low commercial value, so companies often do not invest too many resources in maintenance, resulting in a relatively short life. Therefore, this indicator can be used as a side reflection of a company's innovation ability and technological strength, and can also be used to identify companies with stronger sustainable competitive advantages.