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The Value of Intellectual Property Rights to Firms

  • Christine Greenhalgh
  • Mark Rogers

Economists view intellectual property rights (IPRs) as policy tools for encouraging innovation. There are many types of IPRs and of institutions concerned with their administration. We begin by outlining how these complex and varied rights are supposed to work and how they interact with other characteristics of firms and markets. We then survey the available literature on patents, trade marks and copyright to assess the value of these IPRs to firms and the costs to firms of acquiring and defending their rights. The paper concludes with suggestions for topics requiring further research to better inform public policy in this field.

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File URL: http://www.economics.ox.ac.uk/materials/working_papers/paper319.pdf
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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 319.

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Date of creation: 01 Apr 2007
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Handle: RePEc:oxf:wpaper:319
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  1. Rachel Griffith & Stephen Redding & John Van Reenen, 2000. "Mapping the two faces of R&D : productivity growth in a panel of OECD industries," LSE Research Online Documents on Economics 784, London School of Economics and Political Science, LSE Library.
  2. Dosi, G. & Marengo, L. & Pasquali, C., 2006. "How much should society fuel the greed of innovators?: On the relations between appropriability, opportunities and rates of innovation," Research Policy, Elsevier, vol. 35(8), pages 1110-1121, October.
  3. B. Zorina Khan, 2004. "Does Copyright Piracy Pay? The Effects of U.S. International Copyright Laws on the Market for Books, 1790-1920," NBER Working Papers 10271, National Bureau of Economic Research, Inc.
  4. Greenhalgh, Christine & Rogers, Mark, 2006. "The value of innovation: The interaction of competition, R&D and IP," Research Policy, Elsevier, vol. 35(4), pages 562-580, May.
  5. Ray Corrigan & Mark Rogers, 2005. "The Economics of Copyright," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 6(3), pages 153-174, July.
  6. Matthew J. Baker & Brendan M. Cunningham, 2004. "Court Decisions and Equity Markets: Estimating the Value of Copyright Protection," Departmental Working Papers 4, United States Naval Academy Department of Economics.
  7. Padraig Dixon & Christine Greenhalgh, 2003. "The Economics of Intellectual Property: A Review to Identify Themes for Future Research," Levine's Working Paper Archive 618897000000000645, David K. Levine.
  8. Vopel, Katrin & Scherer, Frederic M. & Narin, Francis & Harhoff, Dietmar, 1997. "Citation Frequency and the Value of Patented Innovation," ZEW Discussion Papers 97-27, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  9. Pisano, Gary, 2006. "Profiting from innovation and the intellectual property revolution," Research Policy, Elsevier, vol. 35(8), pages 1122-1130, October.
  10. Gruber, Harald, 1992. "Persistence of Leadership in Product Innovation," Journal of Industrial Economics, Wiley Blackwell, vol. 40(4), pages 359-75, December.
  11. Christine Greenhalgh, 2005. "Why does market capitalism fail to deliver a sustainable environment and greater equality of incomes?," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 1091-1109, November.
  12. Ivan Png & Qiu-hong Wang, 2007. "Copyright Duration and the Supply of Creative Work," Levine's Working Paper Archive 321307000000000478, David K. Levine.
  13. Bronwyn H. Hall & Adam Jaffe & Manuel Trajtenberg, 2005. "Market Value and Patent Citations," RAND Journal of Economics, The RAND Corporation, vol. 36(1), pages 16-38, Spring.
  14. Schankerman, Mark & Pakes, Ariel, 1986. "Estimates of the Value of Patent Rights in European Countries during the Post-1950 Period," Economic Journal, Royal Economic Society, vol. 96(384), pages 1052-76, December.
  15. 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.
  16. McGahan, Anita M. & Silverman, Brian S., 2006. "Profiting from technological innovation by others: The effect of competitor patenting on firm value," Research Policy, Elsevier, vol. 35(8), pages 1222-1242, October.
  17. 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.
  18. Winter, Sidney G., 2006. "The logic of appropriability: From Schumpeter to Arrow to Teece," Research Policy, Elsevier, vol. 35(8), pages 1100-1106, October.
  19. Shavell, S. & van Ypersele de Strihou, T.P.M.C., 1999. "Rewards versus intellectual property rights," Discussion Paper 1999-26, Tilburg University, Center for Economic Research.
  20. William E. Griffiths & Paul H. Jensen & Elizabeth Webster, 2005. "The Effects on Firm Profits of the Stock of Intellectual Property Rights," Melbourne Institute Working Paper Series wp2005n04, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  21. Christine Greenhalgh & Mark Rogers, 2006. "Intellectual Property Activity by Service Sector and Manufacturing Firms in the UK, 1996-2000," Melbourne Institute Working Paper Series wp2006n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  22. Nicholas Bloom & John Van Reenen, 2002. "Patents, Real Options and Firm Performance," Economic Journal, Royal Economic Society, vol. 112(478), pages C97-C116, March.
  23. Michele Boldrin & David K Levine, 2002. "The Case Against Intellectual Property," Levine's Working Paper Archive 618897000000000003, David K. Levine.
  24. Teece, David J., 2006. "Reflections on "Profiting from Innovation"," Research Policy, Elsevier, vol. 35(8), pages 1131-1146, October.
  25. George Symeonidis, 1996. "Innovation, Firm Size and Market Structure: Schumpeterian Hypotheses and Some New Themes," OECD Economics Department Working Papers 161, OECD Publishing.
  26. Cockburn, Iain & Griliches, Zvi, 1988. "Industry Effects and Appropriability Measures in the Stock Market's Valuation of R&D and Patents," American Economic Review, American Economic Association, vol. 78(2), pages 419-23, May.
  27. Christine Greenhalgh & Mark Longland, 2005. "Running to Stand Still? - The Value of R&D, Patents and Trade Marks in Innovating Manufacturing Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 12(3), pages 307-328.
  28. 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.
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