The influence of patent novelty and impact on renewal and citation behavior

This article proposes a new method for measuring the novelty and impact of patents based on textual information. Using this measure, we analyzed the relationship between patent novelty, impact, and citation and renewal behavior. Our research finds that the novelty and impact of patents have an inverted U relationship, but due to the characteristics of patent data, this relationship is only in the rising range and has not reached the inflection point of falling. In the short term, novelty is negatively correlated with citations, and impact is positively correlated with citations. In the long run, novelty has an inverted U relationship with citations, and impact has a negative correlation with citations. Novelty has an inverted U relationship with the number of renewals, while novelty and impact have a positive correlation with the number of renewals.