That's Classified! Inventing a New Patent Taxonomy

Alan Hanna, Stephen Billington*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

Innovation researchers currently make use of various patent classification schemas, which are hard to replicate. Using machine learning techniques, we construct a transparent, replicable and adaptable patent taxonomy, and a new automated methodology for classifying patents. We contrast our new schema with existing ones using a long-run historical patent dataset. We find quantitative analyses of patent characteristics are sensitive to the choice of classification; our interpretation of regression coefficients is schema-dependant. We suggest much of the innovation literature should be carefully interpreted in light of our findings.
Original languageEnglish
JournalIndustrial and Corporate Change
Early online date22 Nov 2020
DOIs
Publication statusEarly online date - 22 Nov 2020

Keywords

  • Innovation
  • Invention
  • Machine Learning
  • Patents
  • Patent Classification
  • Taxonomy
  • Economic History

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