Discovering business diversification opportunities using patent information and open innovation cases

Mun, Changbae; Kim, Yongmin; Yoo, Dong Hyun; Yoon, Sejun; Hyun, Heesu; Raghavan, Nagarajan; Park, Hyun-Seok

doi:10.1016/j.techfore.2018.11.006

Cited by 24 publications

(14 citation statements)

References 20 publications

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“…Lee and Lee [20], to overcome such limits of patent information, took advantage of trademark data in addition to patent information, and developed a way to find new business opportunities through collaborative filtering. Another prior study [21] tried to identify new business diversification opportunities using both patent information and merger and acquisition cases. The basic idea of this method is that the business sector of a company acquired by a company with characteristics similar to focal company can be a new business opportunity.…”

Section: A Exploring New Business Opportunitiesmentioning

confidence: 99%

Emerging Business Opportunities Based-On Venture Capital Investment Data in the Fourth Industrial Revolution

Kim¹,

Choi²,

Lee³

2020

IEEE Access

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Section: A Exploring New Business Opportunitiesmentioning

confidence: 99%

Emerging Business Opportunities Based-On Venture Capital Investment Data in the Fourth Industrial Revolution

Kim¹,

Choi²,

Lee³

2020

IEEE Access

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“…Recent TOD studies have started to highlight the importance of technology capabilities to fully understand firms' innovation direction. Some studies of customized TOD have identified technology opportunities by integrating text mining techniques and other methods, such as collaborative filtering [25], association rule mining [12], and the syntactic and semantic analysis of technical sentences [11,26]. The first step of their procedure has been to define a target firm's products or technologies.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Additionally, another important issue is the practical operationalization of enterprise functions, including R&D, product development, and strategic planning. Recently, some researchers have also introduced technology planning [27], product development [28] and business planning [26,29] in TOD. They have identified technology opportunities, extracted information (e.g., technical performance metrics, product attributes and business items), linked each technology opportunity to relevant information, and evaluated the strategic priority of each technology.…”

Section: Literature Reviewmentioning

confidence: 99%

Discovering Potential Technology Opportunities for Fuel Cell Vehicle Firms: A Multi-Level Patent Portfolio-Based Approach

2019

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Technology opportunity discovery (TOD) is an important technique to help fuel cell vehicle (FCV) firms keep market advantage and sustainable development. Under fierce competition in the new energy industry, there is an urgent necessity for innovative TOD methods to effectively identify technology opportunities for FCV firms. This study proposes a structured TOD framework with a multi-level identification process. Based on technology portfolio analysis, it fully integrates the firm’s technology level analysis, technology potential analysis and patent novelty analysis. A series of techniques such as LDA (latent Dirichlet allocation), MDS (multidimensional scaling) and LOF (local outlier factor) are also applied in the framework. A total of 14,858 granted patent data of the FCV industry containing 798 patents of the target firm were extracted from the Derwent Innovation Index database as the input data of the empirical study. The result shows that the framework can provide a more profound analysis for identifying technology opportunities, which offer more appropriate insights in both strategic and operational level technological decisions for technology-oriented firms.

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“…We used a patent database and analyzed a patent citation network. Patents are one of the most reliable sources for technological knowledge [1][2][3] and have been widely used for identification of recent trends of high technologies discovery of new technology opportunity and development of technology roadmaps and plans [4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20]. Since patent citations represent knowledge flows or inheritance between the cited patent and the citing patent, a patent citation network was constructed to visualize all knowledge flows within the blockchain technology.…”

Section: Introductionmentioning

confidence: 99%

Developmental Trajectories in Blockchain Technology Using Patent-Based Knowledge Network Analysis

et al. 2021

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The blockchain is a technology with high growth potential that increases social benefits by streamlining procedures, reducing costs, and innovating the way we work. Considering the growth potential of blockchain technologies, countries around the world are attempting to graft into various fields such as finance, logistics, and healthcare, and actively promoting technology development. Tracing and analyzing the developmental trajectories of blockchain technology can give great insight for R&D direction and strategies. We developed an improved knowledge persistence-based main path approach to identify technological trajectories of the blockchain technology. In addition, future technological directions for each sub-technology under blockchain technology were identified by the knowledge unconventionality metric. The results show that the blockchain technology can be divided into five sub-technologies, and each subtechnology has evolved with high technological interactions among other sub-technologies. Based on the last knowledge streams of the main paths, this paper suggests potential future directions for each subtechnology in the blockchain technology.

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Discovering business diversification opportunities using patent information and open innovation cases

Cited by 24 publications

References 20 publications

Emerging Business Opportunities Based-On Venture Capital Investment Data in the Fourth Industrial Revolution

Emerging Business Opportunities Based-On Venture Capital Investment Data in the Fourth Industrial Revolution

Discovering Potential Technology Opportunities for Fuel Cell Vehicle Firms: A Multi-Level Patent Portfolio-Based Approach

Developmental Trajectories in Blockchain Technology Using Patent-Based Knowledge Network Analysis

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