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Intellectual property regimes and firm strategy: putting Hall and Ziedonis (2001) in perspective

Economic Institutions of Strategy

ISBN: 978-1-84855-486-3, eISBN: 978-1-84855-487-0

Publication date: 22 September 2009

Abstract

Scholars of business, economics, and law have long recognized that rights to intellectual property (IP) intimately shape innovative activity and the pursuit of profits. More than 60 years ago, Michal Polanyi voiced the following concerns about awarding property rights to creations of the “intellect”:The law…aims at a purpose which cannot be rationally achieved. It tries to parcel up a stream of creative thought into a series of distinct claims, each of which is to constitute the basis of a separately owned monopoly. But the growth of human knowledge cannot be divided into such sharply circumscribed phases. Ideas usually develop gradually by shades of emphasis, and even when, from time to time, sparks of discovery flare up and suddenly reveal a new understanding, it usually appears that the new idea has been at least partly foreshadowed in previous speculations. (Polanyi, 1944, pp. 70–71)

Citation

Ziedonis, R.H. (2009), "Intellectual property regimes and firm strategy: putting Hall and Ziedonis (2001) in perspective", Nickerson, J.A. and Silverman, B.S. (Ed.) Economic Institutions of Strategy (Advances in Strategic Management, Vol. 26), Emerald Group Publishing Limited, Leeds, pp. 313-340. https://doi.org/10.1108/S0742-3322(2009)0000026014

Publisher

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Emerald Group Publishing Limited

Copyright © 2009, Authors