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Concordance and complementarity in IP instruments

Author

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  • Marco Grazzi
  • Chiara Piccardo
  • Cecilia Vergari

Abstract

This work investigates the relationship between proxies of innovation activities, such as patents and trademarks, and firm performance in terms of revenues, growth, and profitability. By resorting to the virtual universe of Italian manufacturing and service firms, this work provides a rather complete picture of the Intellectual Property (IP) strategies pursued by Italian firms, in terms of patents and trademarks, and studies whether the two instruments for protecting IP exhibit complementarity or substitutability. In addition, and to our knowledge novel, we propose a measure of concordance (or proximity) between the patents and trademarks owned by the same firm and we then investigate whether such concordance exerts any effect on performance. The results suggest that while patents and trademarks independently exert a relevant impact on firm performance, there is no convincing evidence in favour of a complementary role of IP.

Suggested Citation

  • Marco Grazzi & Chiara Piccardo & Cecilia Vergari, 2020. "Concordance and complementarity in IP instruments," Industry and Innovation, Taylor & Francis Journals, vol. 27(7), pages 756-788, August.
    • Handle: RePEc:taf:indinn:v:27:y:2020:i:7:p:756-788
    DOI: 10.1080/13662716.2020.1726728
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    Cited by:

    1. Marco Grazzi & Chiara Piccardo & Cecilia Vergari, 2022. "Turmoil over the crisis: innovation capabilities and firm exit," Small Business Economics, Springer, vol. 59(2), pages 537-564, August.
    2. Carolina Castaldi & Sandro Mendonca, 2021. "Regions and trademarks. Research opportunities and policy insights from leveraging trademarks in regional innovation studies," Papers in Evolutionary Economic Geography (PEEG) 2138, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Dec 2021.
    3. Lars Hornuf & Matthias Mattusch, 2024. "Fintech Startups in Germany: Firm Failure, Funding Success, and Innovation Capacity," CESifo Working Paper Series 11301, CESifo.
    4. Jacopo Staccioli & Maria Enrica Virgillito, 2020. "The present, past, and future of labor-saving technologies," LEM Papers Series 2020/37, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Fisch, Christian & Meoli, Michele & Vismara, Silvio & Block, Jörn H., 2022. "The effect of trademark breadth on IPO valuation and post-IPO performance: an empirical investigation of 1510 European IPOs," Journal of Business Venturing, Elsevier, vol. 37(5).
    6. Li Zhang & Xiaoguang Shan & Lanxuanjie Zhou, 2025. "Intellectual Property Rights and Firm Performance in China from the Perspective of Firm Heterogeneity," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(2), pages 7816-7844, June.
    7. Guastella, Gianni & Mazzarano, Matteo & Pareglio, Stefano & Xepapadeas, Anastasios, 2022. "Climate reputation risk and abnormal returns in the stock markets: A focus on large emitters," International Review of Financial Analysis, Elsevier, vol. 84(C).
    8. Darius Lambrecht & Joern Block & Matthias Neuenkirch & Holger Steinmetz & Tom Willeke, 2023. "The Interdependence of Intellectual Property and Sales in the Manufacturing Industry: Evidence from the Triangle of Patents, Trademarks, and Sales," Research Papers in Economics 2023-10, University of Trier, Department of Economics.
    9. Mazzarano, Matteo & Guastella, Gianni & Pareglio, Stefano & Xepapadeas, Anastasios & Borghesi, Simone, 2024. "“Carbon” boards and transition risk: Explicit and implicit exposure implications for total stock returns and dividends payouts," Energy Economics, Elsevier, vol. 137(C).
    10. Panta Maria & Xygkogianni Maria, 2024. "Innovation in European SMEs: Exploring the Influence of Investments, Funding, Knowledge, and Intellectual Assets," Business & Entrepreneurship Journal, SCIENPRESS Ltd, vol. 13(2), pages 1-1.

    More about this item

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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