We investigate the role of patent brokers in creating and extracting value from patents. Based on theoretical discussions, distinctive patent market conditions are associated with specific benefits of patent brokers. We provide a conceptual model to frame the role of patent brokers. We identify patent market dimensions that are likely to affect broker selection and argue why companies should carefully select patent brokers. We conclude with an outline of implications and suggestions for empirical research design in this field.
Keywords: Innovation, patent management, value extraction, governance modes, brokerage
Jel Code: M10, O34