In recent years, patenting has been considered one of the major drivers for enhancing national competitiveness and most of the advanced countries have been more actively enforcing patent protection. However, the indicators proposed in previous studies have not been able to deal adequately with the various dimensions of patenting, rather focusing on patent application counts. Therefore, in this research, a comprehensive patent performance indicator is proposed to provide a yardstick by which government policymakers can evaluate the whole process of converting patents into economic assets.