Patent Enforcement Insurance And Enterprise Innovation

In his report to the 19 th national congress of the communist party of China(CPC),general secretary Xi Jinping pointed out that innovation is the primary driving force for development and the strategic support for building a modern economic system.In order to speed up the building of an innovation-oriented country,the report to the 19 th national congress of the communist party of China(CPC)further clarified the important role of innovation in guiding economic and social development.It also indicated that innovation-driven development,as a basic state policy,will play an increasingly important strategic supporting role in China’s new development process.There are many factors that affect the independent innovation of enterprises,such as the state’s protection of intellectual property rights,the market environment of fair competition,the social atmosphere of independent innovation,and the government’s policies to encourage independent innovation.However,the premise for enterprises to carry out independent innovation is that the economic benefits of independent innovation outweigh the costs.Otherwise,enterprises have no incentive to carry out independent innovation.Therefore,it is particularly important to protect the innovation achievements of enterprises for their independent innovation activities.For enterprises,the patent right obtained through independent innovation is often not effectively protected and infringement is inevitable.However,the cost of patent protection is too high.In China,the reLevant government departments have calculated that the cost of each patent lawsuit is about 100,000 yuan on average when patent infringement occurs,and the lawyer fee for the patent infringement cases of enterprises engaged in import and export business is as high as 1-10 million dollars.When confronted with patent infringement,most enterprises usually give up their rights protection in the face of high legal fees.As the patent right cannot be effectively protected,the enthusiasm for independent innovation of enterprises is extinguished.Therefore,the government reduces the cost of patent right protection of enterprises by establishing an insurance system.After the execution of the patent insurance,can the protection of patent rights be strengthened by compensating part of the cost of patent right protection of enterprises?Can it effectively stimulate enterprises to carry out independent innovation activities?We cannot draw a clear conclusion from the existing research literature.Therefore,this article will be carried out in 2012 national patent execution insurance pilot work as a natural experiment,by choosing appropriate sample using the double difference estimation model for empirical test,considering the availability of data from 2008 to 2018 non-financial listed companies as research samples,on the basis of the reLevant economic theory,systematically analyzes the patent insurance implementation effect on enterprise innovation mechanism,and empirically the effects of its policy.The results show that :(1)the implementation of patent enforcement insurance policy can significantly promote the independent innovation activities of enterprises.From the perspective of promoting investment in independent innovation,after the implementation of patent execution and insurance,enterprises are effectively encouraged to invest in r&d.From the perspective of promoting the output of enterprises’ independent innovation,the number of patent applications and patent authorization of enterprises increased significantly after the implementation of patent execution insurance.At the same time,the method of instrumental variables is used to test the robustness of the empirical regression results,which alLeviates the endogeneity problems in the empirical analysis to ensure the reliability of the conclusions.(2)in this paper,the whole sample,respectively,from the nature of property rights is the size of the state-owned and non-state-owned,enterprise and industry concentration of these three aspects to group,and group of samples tested respectively,the results showed that the implementation of the patent execution insurance more can stimulate the non-stateowned enterprises,small and medium-sized enterprises and enterprise independent innovation activities of low concentration.(3)this paper verifies that after the implementation of patent execution and insurance,the financing pressure of enterprises is greatly reduced and innovation output is encouraged,which proves that the implementation of policy has a significant impact on the financing constraints of enterprises.The above empirical research verifies the promotion effect of the implementation of the patent enforcement insurance policy on the innovation of enterprises,proves that the implementation effect of the patent enforcement insurance policy is very good,and achieves the purpose of reducing the patent protection cost of enterprises by establishing the insurance system.Finally Suggestions from the following four angles to perfect the system of patent enforcement of insurance in our country: first,to establish and perfect our country’s patent value evaluation method,when evaluating the value of patents give full consideration to the types of patent,patent scope of content,the validity of the patent right,research and development costs and licensing conditions in different degree of influence on the value of the patent right;Second,increase the publiCity and research and development of patent insurance.Insurance companies need to develop patent insurance types as soon as possible and use Internet marketing tools to increase the publiCity.Third,the patent risk assessment mechanism should be improved.Patent insurance companies should cooperate with insurance companies to establish a patent risk management mechanism and give full play to their advantages in patent risk management to reduce risks.Fourth,introduce the patent reinsurance mechanism to help insurance companies share risks,so as to make the patent insurance more healthy and stable development.