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Are Trade Marks and Patents Complementary or Substitute Protections for Innovation

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  • Patrick Llerena
  • Valentine Millot
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    Abstract

    The benefits of innovations for firms strongly depend on their ability to develop complementary appropriability means, including intellectual property (IP) rights. This paper aims at assessing the interrelated effects of two types of IP rights, namely patents and trade marks, considering them in their core function as legal protection devices. Based on a supermodularity analysis, we show that the complementary relationship between trade marks and patents is not straightforward. Depending on the levels of advertising spillovers and depreciation rate, trade marks are found to be either complementary or substitute to patents. Based on a data set encompassing the IP activity of a sample of French publicly traded firms, we find that patents and trade marks are complementary in chemical and pharmaceutical sectors, but substitute in high-tech business sectors (computer products and electrical equipment).

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    Paper provided by Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg in its series Working Papers of BETA with number 2013-01.

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    Date of creation: 2013
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    Handle: RePEc:ulp:sbbeta:2013-01

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    1. Hall, Bronwyn H & Jaffe, Adam B & Trajtenberg, Manuel, 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," CEPR Discussion Papers 3094, C.E.P.R. Discussion Papers.
    2. Giannetti, M., 2000. "Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices," Papers 376, Banca Italia - Servizio di Studi.
    3. Bronwyn H. Hall, Adam Jaffe and Manuel Trajtenberg., 2000. "Market Value and Patent Citations: A First Look," Economics Working Papers E00-277, University of California at Berkeley.
    4. Sandro Mendonça & Tiago Santos Pereira & Manuel Mira Godinho, 2004. "Trademarks as an Indicator of Innovation and Industrial Change," LEM Papers Series 2004/15, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Amara, Nabil & Landry, Réjean & Traoré, Namatié, 2008. "Managing the protection of innovations in knowledge-intensive business services," Research Policy, Elsevier, vol. 37(9), pages 1530-1547, October.
    6. Christine Greenhalgh & Mark Rogers, 2006. "Trade Marks and Performance in UK Firms: Evidence of Schumpeterian Competition through Innovation," Discussion Papers 06-034, Stanford Institute for Economic Policy Research.
    7. Ulrich Schmoch, 2003. "Service marks as novel innovation indicator," Research Evaluation, Oxford University Press, vol. 12(2), pages 149-156, August.
    8. Christian Helmers & Mark Rogers, 2011. "Intellectual Property at the Firm-Level in the UK: The Oxford Firm-Level Intellectual Property Database," Economics Series Working Papers 546, University of Oxford, Department of Economics.
    9. Giovanni Guidetti & Susanna Mancinelli & Massimiliano Mazzanti, 2009. "Complementarity in Training Practices Methodological Notes and Empirical Evidence for a Local Economic System," The IUP Journal of Applied Economics, IUP Publications, vol. 0(1), pages 39-56, January.
    10. Grid Thoma & Salvatore Torrisi & Alfonso Gambardella & Dominique Guellec & Bronwyn H. Hall & Dietmar Harhoff, 2010. "Harmonizing and Combining Large Datasets – An Application to Firm-Level Patent and Accounting Data," NBER Working Papers 15851, National Bureau of Economic Research, Inc.
    11. Bronwyn H. HALL & Raffaele ORIANI, 2004. "Does the Market Value R&D Investment by European Firms? Evidence from a Panel of Manufacturing Firms in France," Economics Working Papers ECO2004/13, European University Institute.
    12. Askenazy, P. & Breda, T. & Irac, D., 2010. "Innovation and Advertising: Theory and Evidence," Working papers 284, Banque de France.
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