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Intellectual property rights, strategy and policy

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Author Info
Lee Davis
Abstract

This introductory essay to the special edition explores the changing role of intellectual property rights (IPRs), and the implications of these changes for firm strategy and industrial policy. Four recent, interrelated trends are important in this regard: (1) the growing prominence of intangible assets as sources of competitive advantage, (2) the globalization of business activities, (3) advances in digital technologies of replicability and transferability, and (4) changes in the legal framework governing the strength and scope of IPRs. We focus, in particular, on the impact of these trends on the importance and effectiveness of patents. We argue that while patents have become more valuable to firms, to fulfill a variety of strategic goals, they seem to have become less effective in actually motivating R&D. This distorts the 'bargain' implied by the patent system, increasing the social costs of patenting while decreasing the social benefits. To help restore this balance, various reforms may be implemented, including the use of alternative incentive systems.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 13 (2004)
Issue (Month): 5 (July)
Pages: 399-415
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Handle: RePEc:taf:ecinnt:v:13:y:2004:i:5:p:399-415

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Related research
Keywords: Intellectual Property Rights; Patents; Innovation; Strategy; R&D Incentives;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. James Bessen & Robert M. Hunt, 2007. "An Empirical Look at Software Patents," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 16(1), pages 157-189, 03. [Downloadable!] (restricted)
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  2. Landes, William M & Posner, Richard A, 1987. "Trademark Law: An Economic Perspective," Journal of Law & Economics, University of Chicago Press, vol. 30(2), pages 265-309, October.
  3. Harris, Christopher J & Vickers, John S, 1985. "Patent Races and the Persistence of Monopoly," Journal of Industrial Economics, Blackwell Publishing, vol. 33(4), pages 461-81, June. [Downloadable!] (restricted)
  4. Rosenberg, Nathan & Nelson, Richard R., 1994. "American universities and technical advance in industry," Research Policy, Elsevier, vol. 23(3), pages 323-348, May. [Downloadable!] (restricted)
  5. Arrow, Kenneth J, 1996. "Technical Information and Industrial Structure," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 645-52.
  6. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January. [Downloadable!] (restricted)
  7. Besen, Stanley M & Raskind, Leo J, 1991. "An Introduction to the Law and Economics of Intellectual Property," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 3-27, Winter. [Downloadable!] (restricted)
  8. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)," NBER Working Papers 7552, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. Michael Kremer, 2000. "Creating Markets for New Vaccines Part II: Design Issues," NBER Working Papers 7717, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Merges, Robert P. & Nelson, Richard R., 1994. "On limiting or encouraging rivalry in technical progress: The effect of patent scope decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 25(1), pages 1-24, September. [Downloadable!] (restricted)
  11. Richard C. Levin & Alvin K. Klevorick & Richard R. Nelson & Sidney G. Winter, 1988. "Appropriating the Returns from Industrial R&D," Cowles Foundation Discussion Papers 862, Cowles Foundation, Yale University. [Downloadable!]
  12. Shavell, Steven & van Ypersele, Tanguy, 2001. "Rewards versus Intellectual Property Rights," Journal of Law & Economics, University of Chicago Press, vol. 44(2), pages 525-47, October.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sunil Kanwar, 2009. "Intellectual Property Protection And Technology Transfer The Case Of Overseas R & D," Working Papers id:1948, esocialsciences.com. [Downloadable!]
  2. Sunil Kanwar, 2007. "Intellectual Property Protection and Technology Transfer: Evidence From US Multinationals," University of California at San Diego, Economics Working Paper Series 2007-05, Department of Economics, UC San Diego. [Downloadable!]
  3. Alka Chadha & Åke Blomqvist, 2005. "Patent Races, “Me-Too” Drugs, and Generics: A Developing-World Perspective," Departmental Working Papers wp0513, National University of Singapore, Department of Economics. [Downloadable!]
  4. Lee Davis, 2006. "Licensing Strategies of the Enterprising - but Vulnerable - "Intellectual Property" Vendors," DRUID Working Papers 06-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  5. Sunil Kanwar, 2008. "Intellectual Property Protection And Technology Transfer Evidence From Us Multinationals," Working papers 166, Centre for Development Economics, Delhi School of Economics. [Downloadable!]
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