This paper delves into the proliferation of non-practicing entities (NPEs), a hot topic in academia and public policy, especially in the United States. The common belief is that Europe is less exposed to NPEs due to a robust patent system, higher enforcement costs, and smaller damage awards. Yet, using a new database of NPE patent applications at the European Patent Office (EPO), the study uncovers that NPEs activity in Europe is arising: they own nearly 20,000 EPO patents, primarily in Electrical Engineering. Moreover, we contribute the literature investigating the heterogeneity of the NPE business model and its relationship with the characteristics and use of the patents they target. Our econometric analysis provides threefold original evidence. First, NPEs with higher propensity for litigation (i.e., “Litigation” NPEs) acquire patents with higher infringement risk but similar technological quality than practicing entities. Second, patent aggregators (i.e., “Portfolio” NPEs) and technology companies (i.e., “Technology” NPEs) acquire higher-quality patents compared to those acquired by practicing entities. Third, patent acquisitions by “Litigation” NPEs and “Portfolio” NPEs reduce the subsequent use of protected technologies.

中文翻译：

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欧洲非执业实体：欧洲专利局专利收购的实证分析

本文深入探讨了非执业实体 (NPE) 的激增，这是学术界和公共政策的热门话题，尤其是在美国。人们普遍认为，由于欧洲拥有健全的专利制度、较高的执行成本和较小的损害赔偿金，因此受到 NPE 的影响较小。然而，利用欧洲专利局 (EPO) 的新 NPE 专利申请数据库，研究发现 NPE 在欧洲的活动正在兴起：他们拥有近 20,000 项 EPO 专利，主要是电气工程领域的专利。此外，我们还贡献了一些文献，调查 NPE 商业模式的异质性及其与目标专利的特征和使用的关系。我们的计量经济学分析提供了三重原始证据。首先，诉讼倾向较高的NPE（即“诉讼”NPE）获得的专利与执业实体相比，侵权风险较高，但技术质量相似。其次，与执业实体相比，专利聚合商（即“组合”NPE）和技术公司（即“技术”NPE）获得的专利质量更高。第三，“诉讼”NPE和“组合”NPE的专利收购减少了受保护技术的后续使用。