Intellectual Property Rights and the Knowledge Spillover Theory of Entrepreneurship
We develop a model in which stronger protection of intellectual property rights has an inverted U-shaped effect on innovation. Intellectual property rights protection allows the incumbent firms to capture part of the rents of commercial exploration that would otherwise accrue to the entrepreneurs. Stronger patent protection will increase the incentive to do R+D and generate new knowledge. This has a positive impact on entrepreneurship and innovation. However, after some point, further strengthening patent protection will reduce the returns to entrepreneurship sufficiently to reduce overall economic growth.
|Date of creation:||11 Sep 2008|
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Find related papers by JEL classification:
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
- O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-20 (All new papers)
- NEP-CSE-2008-09-20 (Economics of Strategic Management)
- NEP-ENT-2008-09-20 (Entrepreneurship)
- NEP-INO-2008-09-20 (Innovation)
- NEP-IPR-2008-09-20 (Intellectual Property Rights)
- NEP-KNM-2008-09-20 (Knowledge Management & Knowledge Economy)
- NEP-MIC-2008-09-20 (Microeconomics)
- NEP-TID-2008-09-20 (Technology & Industrial Dynamics)
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