  Research and innovation is important agenda for any company to remain
competitive in the market. The relationship between innovation and revenue is a
key metric for companies to decide on the amount to be invested for future
research. Two important parameters to evaluate innovation are the quantity and
quality of scientific papers and patents. Our work studies the relationship
between innovation and patenting activities for several Fortune 500 companies
over a period of time. We perform a comprehensive study of the patent citation
dataset available in the Reed Technology Index collected from the US Patent
Office. We observe several interesting relations between parameters like the
number of (i) patent applications, (ii) patent grants, (iii) patent citations
and Fortune 500 ranks of companies. We also study the trends of these
parameters varying over the years and derive causal explanations for these with
qualitative and intuitive reasoning. To facilitate reproducible research, we
make all the processed patent dataset publicly available at
https://github.com/mayank4490/Innovation-and-revenue.
