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Public Knowledge, Private Knowledge: The Intellectual Capital of Entrepreneurs

  • Albert Link
  • Christopher Ruhm

This paper focuses on the innovative actions of entrepreneurs, namely their tendency to reveal the intellectual capital that results from their research efforts either in the form of public knowledge (publications) or private knowledge (patents). Using data collected by the National Research Council within the U.S. National Academies from their survey of firm's that received National Institutes of Health Phase II Small Business Innovation Research awards between 1992 and 2001, we find that entrepreneurs with academic backgrounds are more likely to publish their intellectual capital compared to entrepreneurs with business backgrounds, who are more likely to patent their intellectual capital. We also find that when universities are research partners, their presence complements the tendencies of academic entrepreneurs but does not offset those of business entrepreneurs.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14797.

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Date of creation: Mar 2009
Date of revision:
Publication status: published as Albert Link & Christopher Ruhm, 2011. "Public knowledge, private knowledge: the intellectual capital of entrepreneurs," Small Business Economics, Springer, vol. 36(1), pages 1-14, January.
Handle: RePEc:nbr:nberwo:14797
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  1. David Audretsch, 2009. "The entrepreneurial society," The Journal of Technology Transfer, Springer, vol. 34(3), pages 245-254, June.
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  9. Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August.
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  14. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  15. Baumol William J. & Litan Robert E & Schramm Carl J, 2007. "Sustaining Entrepreneurial Capitalism," Capitalism and Society, De Gruyter, vol. 2(2), pages 1-38, November.
  16. Stuart, Toby E. & Ozdemir, Salih Zeki & Ding, Waverly W., 2007. "Vertical alliance networks: The case of university-biotechnology-pharmaceutical alliance chains," Research Policy, Elsevier, vol. 36(4), pages 477-498, May.
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