Abstract
The advantages that can be derived far and wide between have benefits from the analysis of patents. From the study backward and forward citations have their implications in that knowledge spillover which is derived from inter-industry and intra-industry contributes toward knowledge flow but is not the only element that sustains the industry. Coupled with the distribution, frequency patterns and directional flow of patents in subclasses gives rise to understanding what is being developed thereby opening doors for companies to either follow, catch up or refocus their business strategies in the use of patents and industry analysis. This aids in benchmarking the services and products that will be developed and claims in the future. Findings show that there is significant relationship between patents and forward citations in both the USPTO and the EPO. However for backward citations it is only significant in the USPTO. However the discovery of knowledge diffusion of where the knowledge is dispersed and acquired helps to understand where complementary or rivalry of technology emergence or convergence might occur, which would aid in establishing the trend or technology flow of information and inventions of products and services in the industry. Managerial implications are discussed, and recommendations for future research are established on the basis of the limitations and inferences resulting from this study. Keywords: Knowledge Spillover, Knowledge Flow, USPTO, EPO