The Track One Pilot Program: Who benefits from prioritized patent examination?
研究美国专利商标局加速审查试点计划，发现小型企业更倾向使用该计划，加速专利被引用和诉讼率更高，且对专利范围变化更敏感，表明加速审查有助于激励创业创新。
Abstract Research Summary Speed is often critical for successful commercialization of a new technology, and patents help entrepreneurs secure funding, enter the market, and avoid expropriation of their ideas. In this article, we employ a recent change to U.S. patent law—the introduction of an elective program accelerating patent examination—to investigate the role of patent examination speed in strategic entrepreneurship. We find that small firms with limited patent portfolios are the most likely to expedite their patent applications. Moreover, accelerated patents are cited and litigated at higher rates than other patents, and these outcomes are more sensitive to exogenous changes to patent scope. Our results suggest that providing the option to accelerate patent examination may help increase incentives for innovation by strategic entrepreneurs. Managerial Summary Patents are essential to high‐tech businesses, helping them to secure funding and exclude competitors from the marketplace. We evaluate a USPTO pilot program that allowed patent applicants to accelerate patent examination, yielding a patent in less than 1 year when typically 3 or more years are required. We find that entrepreneurs are more likely to use the program than large firms. Moreover, patents examined under the program tend to be strategically important. They are litigated and cited at higher rates than other patents, and the scope of the patents' claims plays a key role in these outcomes. Collectively our results suggest that multi‐track patent examination programs are likely to have a positive effect on generating new ideas, increasing value capture for entrepreneurs, and facilitating the growth of small businesses. Our results also suggest that the USPTO has implemented the program successfully by accelerating examination without sacrificing quality.