DOCSLIB.ORG

Can Patent Family Size and Composition Signal Patent Value? Francois P

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Can Patent Family Size and Composition Signal Patent Value? Francois P APPLIED ECONOMICS https://doi.org/10.1080/00036846.2019.1624914 Can patent family size and composition signal patent value? Francois P. Kaborea and Walter G. Parkb aCenter for Research and Action for Peace (CERAP), Abidjan, Ivory Coast; bDepartment of Economics, American University, Washington, DC, USA ABSTRACT KEYWORDS Recent research has proposed a method of patent valuation based on weighting patent family Patent valuation; market size by the market size of the countries in the family. The premise is that inventors tend to seek size; patent families; greater international coverage for their more valuable patents. The paper presents a novel way to citations; renewal test the ability of market size-weighted patent families to predict patent value and compares the JEL CLASSIFICATION method against extant measures of patent valuation based on patent citations and renewal O34; O33; F23; K11 behaviour. We use forecasting techniques to show that the weighted patent family size measure outperforms other methods in terms of predicting patent life and the number of citations. An advantage of the weighted patent family size measure is that it is based on ex-ante information and is easy to construct for purposes of evaluating patent value. We demonstrate this advantage using a large, comprehensive database of international patent families. I. Introduction firms publicly disclose details about their patent transactions or technology transfer agreements. Patent valuation is important to firms’ decision- Furthermore, not all patent rights have a steady making and strategies. For example, it shapes incen- cash flow, since some (if not many) patented inven- tives for investments in innovation. It also plays a key tions are not commercialized or are not ‘worked’ role in licensing negotiations and in determining the (put into practice). Other problems may be that relative bargaining strength of parties (Smith and some patents are invalid (not correctly granted and Parr 2000). Patent litigation is also affectedbyper- will be invalidated upon challenge) or that asym- ceptions of patent value. The more valuable the metric information exists (where the seller knows patent rights are, the more committed patent holders the quality of the underlying invention but the buyer will be to monitor and enforce their rights. Patent does not) so that contract prices may distort the true valuation is also important to policy-makers for valuation of patents.3 assessing the impact of legal provisions or innovation 1 Consequently, from a research standpoint, patent policies on the level and quality of new technologies. valuation is largely based on observing the character- Is the policy regime merely encouraging the filing of istics of a patent or the behaviour of a patent holder patents for low-valued inventions or generating that may reveal information about the underlying transformative wealth-creating activities? The valua- value. For example, previous work by Bessen tion of patents can also provide useful indicators for (2008), Lanjouw, Pakes, and Putnam (1998), Pakes comparing the production of innovations across and Simpson (1989) and Schankerman and Pakes industries and countries. (1986) examined patent renewal behaviour. Given However, the value of patents is not easily the costs of maintaining patent rights, the relatively observed. Patent rights are not frequently or widely most valuable patents will be selected by patent traded like financial instruments, such as equities. holders for renewal. Another approach has been to Large, international exchange institutions for pro- 2 factor in a patent’s forward citations (see Trajtenberg viding markets for patent rights are absent. Few (1990), Harhoff et al. (1999), Jaffe and Trajtenberg CONTACT Walter G. Park [email protected] Department of Economics, American University, Washington, DC, USA 1See Bessen and Meurer (2009). 2However, patent rights are tradable at auctions, held for example by Ocean Tomo, an intellectual property merchant bank. Fisher and Leidinger (2014) and Mauck and Pruitt (2016) study patent values from Ocean Tomo auctions. 3See Murphy, Orcutt, and Remus (2012) for a discussion of the impact of adverse selection on patent values. © 2019 Informa UK Limited, trading as Taylor & Francis Group 2 F. P. KABORE AND W. G. PARK (2002), and Hall, Jaffe, and Trajtenberg (2005)). The take into account the potential market size of more valuable a patent is the more likely it will find the protected areas.6 use in follow-on research or production and there- A key limitation of the citation and renewal meth- fore be more often cited. Barney (2002) finds that ods is that patent values are assessed ex-post. As citations and renewal are related in that patents that pointed out by Hall, Jaffe, and Trajtenberg (2005), receive no forward citation in their first four years are asufficient time is needed after a patent is first less likely to be renewed than those with multiple published to observe citations of it by later patents. citations. On the other hand, patent renewals and Furthermore, patent citations are not distinguished citations may not always yield the same ‘signal’. by how much impact the cited patents have on an A patent may lapse (for lack of market value or invention; for example, patent X may cite prior other) and yet continued to be cited.4 patents A and B, but A may be more important to Another approach to gauging patent value is X’s function than B. Moreover, the reason patent to examine patent family size (see Harhoff, X may cite A and B is to indicate that they are Scherer, and Vopel 2003; Johnstone et al. 2012; alternative products or methods of production, so Lanjouw and Schankerman 2004;Putnam1996). that X is not infringing on them, rather than that Patent family size refers to the number of coun- patent X builds on them. Renewals are also observed tries in which an invention is protected by later in the life of a patent. Another limitation is that a patent; that is, the priority filing and the sub- renewal decisions may be made not on grounds of sequent filings that emanate from it.5 Given the patent value, but on changes in the cost of renewing costs of acquiring patents in multiple jurisdic- or maintaining patents. The limitation of patent tions, rights holders would reserve their more family size as a measure of patent value is that it valuable technologies for international patenting. does not take into account the attractiveness of A variant of this approach is to consider triadic different market destinations. patents, where an invention is protected in the Our contribution here is to join recent work that three major markets, namely the U.S., Japan and weights patent family size by indicators of the mar- the European Patent Office (EPO) (see Dernis, ket potential of the countries comprising the patent Guellec, and van Pottelsberghe De La Potterie family (see van Pottelsberghe De La Potterie and van 2001; Kumazawa and Gomis-Porqueras 2012), Zeebroeck 2008;Frietschetal.2010;Ernstand or transnational patents, which are patent Omland 2011; Neuhausler and Freitsch, 2013; families with at least one EPO or Patent Dechezleprêtre, Ménière, and Mohnen 2017).7 The Cooperation Treaty (PCT) filing. But both the rationale for factoring in the market size is that raw family size and the triadic variable do not rights holders who possess more valuable patents 4Moreover, renewal decisions may largely reflect private value while citations reflect some social value as well, considering the impacts of the patented technology on other inventions. 5There is also an extended patent family definition, as described in Hingley and Park (2003), where ‘a patent family encompasses all the documents related to the patents emanating from an invention, including documents that may cross relate to other inventions as well.’ See also Martinez (2011) for a thorough survey of patent family definitions and methodologies. 6There are other potential indicators of patent value, such as whether a patent has faced an opposition challenge (Harhoff and Reitzig 2004), the number of claims in a patent (Tong and Frame, 1994), auction prices (Nair, Mathew, and Nag 2011; Sneed and Johnson 2009), and filings strategies (van Zeebroeck and van Pottlesburg de la Potterie, 2011). Other approaches to determining patent value are event studies around court decisions or patent announcements (see Henry 2013; Austin 1993). In this paper, we focus primarily on comparing our method of valuation to the most widely used indicators of patent value thus far, namely patent renewals and citations. In this paper, we do control for patent claims which are also ex-ante information. We had examined data on opposition in preliminary work, but do not pursue them further here. While it is likely that patents with much commercial value are the ones that will be challenged, they will also be challenged if they are invalid from a legal perspective. 7van Pottelsberghe De La Potterie and van Zeebroeck (2008) focus on the size and age of a patent family and discuss how the market size (GDP) of destination countries is an important factor in the patent validation strategy of firms but do not construct a GDP-weighted measure of patent families. Ernst and Omland (2011) weight patent counts by market coverage in order to develop a Patent Asset Index for firms. Specifically, a firm’s patent portfolio is evaluated based on the GDP of countries covered and its technological relevance based on citations received. Dechezleprêtre, Ménière, and Mohnen (2017) argue that the timespan between the first application date and last application date within an extended patent family can be an indicator of value, as the lag could reflect the applicant’s strategy to optimize patent scope over time. Freitsch et al. (2010) incorporate export volumes and intensities to patent value indicators. Neuhausler and Freitsch (2013) use six different variables for weighting patent family sizes: the imports, GDP, population, strength of patent protection, global competitiveness, or intensity of local competition of the countries in the family.
Load more

Recommended publications
  • Patents and the Public Domain: Improving Patent Quality Upon Reexamination
    Patents and the Public Domain: Improving Patent Quality Upon Reexamination Prepared by Policy Intern Raeanne Young [email protected] May 2008 ELECTRONIC FRONTIER FOUNDATION eff.org Table of Contents EXECUTIVE SUMMARY ........................................................................................................................3 PATENTS AND THE PUBLIC DOMAIN .....................................................................................................4 The Problem With Patent Quality ..................................................................................................4 Policy Rationale: Encouraging Innovation .......................................................................................4 PATENT REEXAMINATION ...................................................................................................................6 Ex parte and Inter partes .............................................................................................................6 OVERALL REEXAMINATION TRENDS ......................................................................................................8 Ex Parte Reexamination Filing Data: July , 98 - December 3, 2007 ...............................................8 Inter Partes Reexamination Filing Data: November 29, 999 - December 3, 2007 .............................0 Comparison of Ex Parte and Inter Partes ......................................................................................0 PROMOTING FAIRNESS IN THE PATENT SYSTEM THROUGH REEXAMINATION .............................................2
    [Show full text]
  • Introduction to Patent Data
    Introduction to patent data Gianluca Tarasconi, rawpatentdata.blogspot.com IP introduction Querying patent databases is a process where user can meet pitfalls. Datasets answer exactly what they are asked. In order to ask the correct question some background is needed. IP overview Legal right What for? How? Application and Patents New inventions examination Original creative or Exists Copyright artistic forms automatically* Distinctive identification Use and/or Trade marks of products or services registration Registered External appearance Registration* designs Valuable information Reasonable efforts Trade secrets not known to10 the public to keep secret Worldwide patents filings https://www3.wipo.int/ipstats/ipslinechart by patent office 10 Patent Information (I): Ipad Patent Document front page (USD503889) The patent document is the data source; For statistical purposes the data must, however, be cleaned, normalized and reclassified; You need to be able to query (with queries or user interfaces); The latter is the reason why resources (databases, reports, etc.) where data has been preprocessed are used. 2 Patent front page 2 CAVEAT! Is 1 patent = 1 invention? NO Due to applicant strategy, institutional bias etc 1 patent family = 1 invention 10 * PATENT FAMILY DEFINITION A patent family is "a set of patents taken in various countries to protect a single invention (when a first application in a country – the priority – is then extended to other offices).“ In other words, a patent family is "the same invention disclosed by a common inventor(s) and patented in more than one country.” 10 PATENT FAMILY 10 PATENT FAMILY – from EPO Espacenet 10 CAVEAT 2! Is 1 document number= 1 patent? NO Also application kind defines type of application.
    [Show full text]
  • Structure and Function of the Patent Specification August 2014
    Structure and Function of the Patent Specification August 2014 Structure and Function of the Patent Specification The structure of a patent specification is described below, with some explanations of underlying patent law concepts that the specification is designed to address. At the end of this note is a section which guides applicants in checking a specification that we prepare on their behalf. General Purpose The purpose of the patent specification is to fulfil the patentee’s part in the contract that a patent constitutes. In return for a full disclosure of the invention, the patentee can have a time-limited monopoly for the invention. During that time, the patentee has the right to stop others working the invention without permission. The monopoly generally lasts for twenty years, although annual renewal fees are usually payable. After the patent expires, the invention enters the public domain and cannot be patented again. A patent is enforced if necessary against infringers by action brought before the court. A patent specification is a legal document. Third parties and the court must be able to understand it, so that the limits of the protection it affords can be determined precisely. Structure of the specification • A patent specification normally has the following parts in the order given: • A title to identify the invention. • A statement as to the field to which the invention relates. • An explanation of the background “state of the art” – what was already known prior to the invention. • A statement of an objective technical problem which the invention seeks to solve, or an objective the invention is aimed at achieving.
    [Show full text]
  • Evergreening" Metaphor in Intellectual Property Scholarship
    University of Missouri School of Law Scholarship Repository Faculty Publications Faculty Scholarship 2019 The "Evergreening" Metaphor in Intellectual Property Scholarship Erika Lietzan University of Missouri School of Law, [email protected] Follow this and additional works at: https://scholarship.law.missouri.edu/facpubs Part of the Food and Drug Law Commons, Intellectual Property Law Commons, and the Science and Technology Law Commons Recommended Citation Erika Lietzan, The "Evergreening" Metaphor in Intellectual Property Scholarship, 53 Akron Law Review 805 (2019). Available at: https://scholarship.law.missouri.edu/facpubs/984 This Article is brought to you for free and open access by the Faculty Scholarship at University of Missouri School of Law Scholarship Repository. It has been accepted for inclusion in Faculty Publications by an authorized administrator of University of Missouri School of Law Scholarship Repository. For more information, please contact [email protected]. DATE DOWNLOADED: Wed Jan 20 13:42:00 2021 SOURCE: Content Downloaded from HeinOnline Citations: Bluebook 21st ed. Erika Lietzan, The "Evergreening" Metaphor in Intellectual Property Scholarship, 53 AKRON L. REV. 805 (2019). ALWD 6th ed. Lietzan, E. ., The "evergreening" metaphor in intellectual property scholarship, 53(4) Akron L. Rev. 805 (2019). APA 7th ed. Lietzan, E. (2019). The "evergreening" metaphor in intellectual property scholarship. Akron Law Review, 53(4), 805-872. Chicago 7th ed. Erika Lietzan, "The "Evergreening" Metaphor in Intellectual Property Scholarship," Akron Law Review 53, no. 4 (2019): 805-872 McGill Guide 9th ed. Erika Lietzan, "The "Evergreening" Metaphor in Intellectual Property Scholarship" (2019) 53:4 Akron L Rev 805. AGLC 4th ed. Erika Lietzan, 'The "Evergreening" Metaphor in Intellectual Property Scholarship' (2019) 53(4) Akron Law Review 805.
    [Show full text]
  • Preparation and Filing of a Provisional Patent Application I
    i Preparation and Filing of a Provisional Patent Application Introduction A provisional application is a means for inventors to easily, quickly and inexpensively obtain “patent pending” status and establish a priority date in the United States Patent and Trademark Office. The provisional application has a one year term. Prior to the expiration of the provisional, a regular utility patent application must be filed which claims priority to the earlier filing date of the provisional. The provisional application is usually less expensive since all of the formal requirements that are needed for a regular utility patent application are not required. In addition, there is no requirement to include write “claims” for the invention. While the claims are important to ultimately define the scope of the invention, preparation of valid claims can be the most difficult section for the lay person to prepare. To the untrained eye, the claims sometimes appear to include highly technical jargon written in a foreign language. But the legal requirements of defining the metes and bounds of an invention require a high degree of precision which is not always easily expressed in plain language. Assuming that the same subject matter of the utility application is included in the provisional application, it is as if the utility application was filed as of the earlier provisional date. This is important since the first to file will typically be considered the first inventor. Note that the provisional priority date only applies for material included in the provisional application. Thus, details are important! During this one year period, the inventor can investigate the commercial feasibility of the invention to determine if the cost of a regular patent application is worth the expense.
    [Show full text]
  • M&A Strategy
    MODULE 06 Patent Information MODULE 06. Patent Information OUTLINE LEARNING POINT 1: Understanding patent information 1. Patent information & Patent documents (1) Patent Information (2) Patent documents 2. Advantages of patent information LEARNING POINT 2: Type of patent information search 1. State‐of‐the‐art & Patentability search (1) State‐of‐the‐art search (2) Patentability search 2. Infringement search 3. Validity search 4. Index or name search LEARNING POINT 3: Method of patent information search 1. Types of patent information databases (1) CD‐ROM (2) Online databases 2. Selection of databases 3. Example of on‐line databases search (1) How to access Full‐Text database (2) How to use a Quick Search page LEARNING POINT 4: Strategic use of patent information 1. In licensing (1) ‘Licensing in’ technology (2) ‘Licensing out’ technology (3) ‘Cross‐licensing’ 2. In Mergers & Acquisitions 3. In Research & Development 4. In Human Resource Management INTRODUCTION Even the latest gadgets get outdated in no time. Umpteen, new or improved models are constantly appearing on the market. Can something be really done to survive this fierce competition? In this module, we look at the role of patent information in protecting a business as well as in helping it to gain a competitive edge. In particular, we are going to deal with what is meant by patent information and why it is important and discuss how patent information may be used including searching patent information and strategically using the results of such a search. LEARNING OBJECTIVES 1. You understand the concept of patent information. 2. You understand how to strategically use patent information.
    [Show full text]
  • Inventions and Patents
    MODULE 03 Inventions and Patents MODULE 03. Inventions and Patents OUTLINE LEARNING POINT 1: Basics of invention and patent 1. One way of adding value to a product 2. Reasons for patenting an invention LEARNING POINT 2: Patent application 1. Evaluating the patentability of an invention 2. Deciding whether to patent an invention 3. Preparing a patent application (1) Detailed description of the invention (2) Claims (3) Who prepares (4) After filing a patent application LEARNING POINT 3: Patent infringement 1. Definition of patent infringement 2. If you come across your competitor’s patent LEARNING POINT 4: Patent management system 1. Basic elements of a patent management system 2. Patent portfolio INTRODUCTION The term "intellectual property (IP)" is defined as the property resulting from creations of the human mind, the intellect. In this regard, it is fair that the person making efforts for an intellectual creation has some benefit as a result of this endeavor. Probably, the most important among intellectual properties is “patent.” A patent is an exclusive right granted by a government for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. The details on the way of acquiring patents will be provided for protecting precious intellectual properties. LEARNING OBJECTIVES 1. You understand how to decide whether your new technology or invention should be protected by one or more patents and, if so, how to do so. 2. You know how the grant of a patent over an invention or technology helps you to prevent or have an upper hand in legal disputes that may arise later on.
    [Show full text]
  • Patenting: a Guidebook for Patenting in a Post-America Invents Act World
    Foley Hoag eBook PATENTING: A Guidebook For Patenting in a Post-America Invents Act World by Beth E. Arnold PATENTING: A GUIDEBOOK FOR PATENTING IN A POST-AMERICA INVENTS ACT WORLD IN A POST-AMERICA A GUIDEBOOK FOR PATENTING PATENTING: 1 Contents Preface ............................................................................................................1 Chapter 1 What Is a Patent? ..........................................................................................2 Chapter 2 What Is Potentially Patentable? ................................................................5 Chapter 3 What Is Not Patentable? .............................................................................7 Chapter 4 How Is a Patent Obtained? .......................................................................16 Chapter 5 What Should You Do Before Filing a Patent Application? ...............25 Chapter 6 What Shouldn’t You Do Before Filing a Patent Application? ...........28 Chapter 7 How Are Foreign Patents Obtained? .....................................................29 Chapter 8 Who Is an Inventor on a Patent? ............................................................33 Chapter 9 Who Owns the Patent? ..............................................................................35 Chapter 10 How Long Is a Patent in Effect? .............................................................39 About Foley Hoag ...............................................................................................42 About the Author: Beth E. Arnold .........................................................................43
    [Show full text]
  • Preparing-A-Patent-Application.Pdf
    PREPARING A PATENT APPLICATION Patentability 1. The idea, concept or device must be novel. It cannot have been publicly known anywhere in the world prior to its invention by you. Public disclosure includes publication, display, presentation, offer for sale, commercial use or inclusion in a previous patent. 2. The invention must be kept confidential. In the United States a patent application can be filed one year from the date you publicly disclose, BUT in the rest of the world, the right to file is lost the day it is disclosed. Therefore, it is important to contact the Technology Transfer office before making any public disclosure. 3. The invention must not be obvious. An argument must be made that an average person who is skilled in the field would not have thought of the invention as an obvious extension or combination of existing knowledge. This is the most difficult test because the patent examiner can argue that IF a person knew about A, B and C they could have arrived at X. 4. Inventions which are NOT patentable include theories, plans of action, mental processes, laws of nature, mathematical expressions or algorithms, methods of doing business or naturally occurring substances (although their isolation or use may be patentable). General Considerations 1. A patent application is divided into two distinct parts. Disclosure or Specification -- The disclosure comprises the bulk of the patent application. It includes a discussion of all related literature, patents and publicly disclosed material. It contains a detailed explanation of the invention and how it differs from all prior public matter, and it describes the best mode of practicing the invention in enough detail that an average person skilled in the field could reproduce the invention.
    [Show full text]
  • Library Start Your Business: Draft a Patent Application
    Library Start Your Business: Draft a Patent Application Azalea Ebbay Librarian, San Diego Public Library Roya Bagheri Staff Attorney, San Diego Volunteer Lawyer Program, Inc. Paul Yen Primary Examiner, U.S. Patent and Trademark Office June 10, 2020 Library Overview • Patent and Trademark Resource Center with Azalea Ebbay • San Diego Volunteer Lawyer Program, Inc. with Roya Bagheri • Learn How to Draft a Patent Application with Paul Yen Library Patent and Trademark Resource Center • Provide free access to patent and trademark resources provided by the USPTO • Direct you to information and explain the application process and fee schedule • Demonstrate how to use patent and trademark search tools • Show you a directory of local patent attorneys and agents who are licensed to practice before the USPTO • Assists with patent searches for an ancestor’s inventions • Offers free educational programs Note: We cannot provide business or legal advice. We cannot perform patent or trademark 2019 Start Your Business event searches. with San Diego Volunteer Lawyer Program, Inc. and Procopio Library Teaching patents to high school students for UCSD Rady School of Management’s LaunchPad Kid’s Invent It Month, a program children’s themed program Library You can borrow free small business eBooks with your library card on CloudLibrary. You can also pick up your holds at select San Diego Public Library locations. Library Our Final Event with the U.S.P.T.O. Trademark Application Walk-through with Jason Lott Date: June 17th Time: 2-3:30 p.m. PST Registration website: https://sandiego.librarymarket.com/events/start-your-business-trademark-application-w alk-through-webex-event Any questions? Azalea Ebbay, San Diego Public Library [email protected] (619) 238-6683 San Diego Volunteer Lawyer Program, Inc.
    [Show full text]
  • Drug Pricing and Pharmaceutical Patenting Practices
    Drug Pricing and Pharmaceutical Patenting Practices February 11, 2020 Congressional Research Service https://crsreports.congress.gov R46221 SUMMARY R46221 Drug Pricing and Pharmaceutical Patenting February 11, 2020 Practices Kevin T. Richards, Intellectual property (IP) rights in pharmaceuticals are typically justified as necessary to allow Coordinator manufacturers to recoup their substantial investments in research, development, and regulatory Legislative Attorney approval. IP law provides exclusive rights in a particular invention or product for a certain time period, potentially enabling the rights holder (e.g., a brand-name drug manufacturer) to charge Kevin J. Hickey higher-than-competitive prices. If rights holders are able to charge such prices, they have an Legislative Attorney incentive to lengthen the period of exclusive rights as much as possible. Indeed, some commentators allege that pharmaceutical manufacturers have engaged in patenting practices that unduly extend the period of exclusivity. These critics argue that these patenting practices are used Erin H. Ward to keep drug prices high, without any benefit for consumers or innovation. Criticisms center on Legislative Attorney four such practices: “Evergreening”: So-called patent “evergreening” is the practice of filing for new patents on secondary features of a particular product as earlier patents expire, thereby extending patent exclusivity past the original twenty-year term. Later-filed patents may delay or prevent entry by competitors, thereby allowing the brand-name
    [Show full text]
  • Priority Patent Applications Philip M
    NEWS & ANALYSIS PATENT PRIMER Priority patent applications Philip M. Webber The Paris Convention allows an inventor to file an initial ‘priority’ patent application This ‘priority year’ provides a number of by the patent office within the priority year. and then to file foreign patent applications benefits, the most important of which are This can give the inventor (and potential on the basis of that ‘priority’ application up described below. investors) a useful early indication of whether to 1 year later. This year gives the inventor or not patents are likely to be granted in due Further development time time to evaluate the invention before course in other countries — that is, before committing to the expense of filing foreign The priority year allows time for the inventor the expense of filing numerous foreign pat- patent applications. to develop the invention further. This time ent applications is incurred. For example, can be used to obtain more experimental data the UK Patent Office can usually produce a to support the patent application or to refine Search and Examination Report on the merits Paris Convention more precisely the aspects of the invention of the invention within 3–6 months of the Under the Paris Convention (BOX), an in - that are likely to be the most commercially filing date of the priority application. Such ventor can file an initial patent application important and, therefore, where the claims of reports often highlight relevant disclosures (a ‘priority application’) at one patent office the patent application should be directed. If (‘prior art’) of which the inventor was un- (usually the patentee’s own country’s) and further experimental data are produced, one or aware; and the claims of any later applica- then — within 1 year — file patent applica- more further priority applications can be filed tions can be amended to take this prior art tions in other countries on the basis of that in the priority year, on the basis of the text of into consideration.
    [Show full text]