Intellectual property rights, strategy and policy
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.
Volume (Year): 13 (2004)
Issue (Month): 5 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/GEIN20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/GEIN20|
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.:
- Stanley M. Besen & Leo J. Raskind, 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.
- Wesley M Cohen & Richard R Nelson & John P Walsh, 2003.
"Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (Or Not),"
Levine's Working Paper Archive
618897000000000624, David K. Levine.
- 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.
- Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January.
- 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 for Research in Economics, Yale University.
- James Bessen & Robert M. Hunt, 2004.
"An empirical look at software patents,"
03-17, Federal Reserve Bank of Philadelphia.
- Shavell, S. & van Ypersele de Strihou, T.P.M.C., 1999.
"Rewards versus intellectual property rights,"
1999-26, Tilburg University, Center for Economic Research.
- Steven Shavell & Tanguy van Ypersele, 1999. "Rewards versus Intellectual Property Rights," NBER Working Papers 6956, National Bureau of Economic Research, Inc.
- SHAVELL, Steven & VAN YPERSELE, Tanguy, "undated". "Rewards versus intellectual property rights," CORE Discussion Papers RP 1597, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Harris, Christopher J & Vickers, John S, 1985. "Patent Races and the Persistence of Monopoly," Journal of Industrial Economics, Wiley Blackwell, vol. 33(4), pages 461-481, June.
- Michael Kremer, 2000.
"Creating Markets for New Vaccines Part II: Design Issues,"
NBER Working Papers
7717, National Bureau of Economic Research, Inc.
- Michael Kremer, 2001. "Creating Markets for New Vaccines - Part II: Design Issues," NBER Chapters, in: Innovation Policy and the Economy, Volume 1, pages 73-118 National Bureau of Economic Research, Inc.
- Arrow, Kenneth J, 1996. "Technical Information and Industrial Structure," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 645-652.
- Rosenberg, Nathan & Nelson, Richard R., 1994. "American universities and technical advance in industry," Research Policy, Elsevier, vol. 23(3), pages 323-348, May.
- Davis, Lee N. & Meyer, Klaus E., 2004. "Subsidiary research and development, and the local environment," International Business Review, Elsevier, vol. 13(3), pages 359-382, June.
- Landes, William M & Posner, Richard A, 1987. "Trademark Law: An Economic Perspective," Journal of Law and Economics, University of Chicago Press, vol. 30(2), pages 265-309, October.
- 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.
When requesting a correction, please mention this item's handle: RePEc:taf:ecinnt:v:13:y:2004:i:5:p:399-415. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.