Effect of university technology transfer office on patents’ market value: evidence from patent transactions

Abstract We investigate whether certified university technology transfer offices (UTTOs) can enhance patents’ market value. We compile transaction information for 1,617 patents disclosed on official university websites and match them to patent bibliometric information from the INCOPAT database. A combination of OLS and probit regressions, as well as staggered difference-in-differences is applied. Results reveal that patents commercialized with certified UTTO participation sell at higher prices, and more experienced UTTOs outperform younger ones. Furthermore, patent applications supported by certified UTTOs exhibit higher quality at grant. Certified UTTOs are positively correlated with the number of patent claims at filing and negatively correlated with the reduction in claims during examination, serving as a key mechanism through which they enhance patent quality and value. Overall, we confirm the beneficial role of UTTOs and reveal the mechanism linking UTTO involvement to improved patent quality and market value, advancing understanding of university technology transfer and patent management.