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Book part
Publication date: 26 July 2008

Vincenzo Denicolò and Luigi Alberto Franzoni

In this paper we look at patents as alternative to trade secrets. We disentangle the disclosure motive for patent protection from the traditional reward motive by…

Abstract

In this paper we look at patents as alternative to trade secrets. We disentangle the disclosure motive for patent protection from the traditional reward motive by adjusting the level of patent protection so as to make the innovator just indifferent between patenting and keeping the innovation secret. Thus, we keep the reward (expected profits) to the innovator fixed and focus on ex post efficiency. When duplication is not feasible and secrecy only entails the risk of public disclosure (a leakage), patents and secrets are perfect substitutes. Yet, a distinctive features of trade secret protection is that it allows for independent creation. The duplicative efforts to reproduce a concealed innovation make patents and secrets imperfect substitutes. If such duplicative efforts are actually exerted under secrecy, patents provide the pre-specified incentive to innovate at least social cost. If, however, the threat of duplication induces the innovator to preemptively license her trade secret, and such licensing agreements allow the innovator to appropriate all the saved duplication costs, then secrets can reward innovative activity more efficiently than patents. Thus, the issue of whether patents are socially preferable to secrets boils down to an assessment of the prevalence and the efficiency of trade secret licensing. The available empirical evidence suggests that licensing of trade secret information is limited and so hints at the superiority of patents.

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The Economics of Innovation
Type: Book
ISBN: 978-0-444-53255-8

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Article
Publication date: 5 August 2019

Maria Sääksjärvi and Katarina Hellén

Development of new products is important for firm success; however, firms often struggle to identify the best ideas from multiple options. The purpose of this paper is to…

Abstract

Purpose

Development of new products is important for firm success; however, firms often struggle to identify the best ideas from multiple options. The purpose of this paper is to study how innovators and early adopters can be used for identifying the best ideas, i.e. the ideas that appeal to mass-market customers.

Design/methodology/approach

Two empirical studies were conducted. Study 1 concerned the development of a symbolic innovation, whereas Study 2 focused on a functional innovation. Each study consisted of two parts: idea generation and idea evaluation. In Study 1 there were 124 idea generators and 248 idea evaluators. In Study 2 there were 104 idea generators and 108 evaluators.

Findings

Both studies demonstrate that innovators and early adopters are able to predict the ideas that appeal to mass-market customers. Yet, it was also shown that this prediction depends on the nature of the idea. In the case of ideas for products that are predominantly symbolic in nature (Study 1), innovators and early adopters predict the buying intentions of mass-market consumers via the perceived novelty of the idea. In turn, for ideas that are predominantly functional in nature, innovators and early adopters predict the buying intentions of mass-market consumers directly via buying intentions.

Originality/value

These findings show that innovators and early adopters can be used for selecting the best ideas from a plethora of available options. This is the first time that innovators and early adopters have been empirically demonstrated to hold such a role.

Details

European Journal of Innovation Management, vol. 22 no. 4
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 1 January 1998

Ronald E. Goldsmith

This article reports the findings from a survey on wine use and related consumer characteristics from 271 adult US consumers. A valid and reliable self‐report scale was…

Abstract

This article reports the findings from a survey on wine use and related consumer characteristics from 271 adult US consumers. A valid and reliable self‐report scale was used to measure wine innovativeness. Multi‐item scales also measured level of wine consumption, wine involvement, opinion leadership for wine, and real and subjective wine knowledge. As hypothesised, wine innovators reported using more wine than non‐innovators. They were also found to score higher on measures of wine involvement, wine opinion leadership, and subjective wine knowledge than those consumers less likely to be wine innovators. This pattern of characteristics is similar to that found for innovative consumers of other product fields and provides insights into the characteristics of wine innovators that marketers can use to develop better strategies for innovative wine products.

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International Journal of Wine Marketing, vol. 10 no. 1
Type: Research Article
ISSN: 0954-7541

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Article
Publication date: 1 December 2004

Ian Phau and Chang‐Chin Lo

As fashion innovators are the chief buyers of fashion at the introductory stage, they have significant influence on the product at the later stages. Building on this, this…

Abstract

As fashion innovators are the chief buyers of fashion at the introductory stage, they have significant influence on the product at the later stages. Building on this, this study attempts to achieve four main objectives. First, it provides a demographic profile of fashion innovators. Second, it identifies the differences in self‐concepts between innovators and non‐innovators. Third, it attempts to discover if innovators are impulse purchasers. Finally, it investigates if fashion innovators will purchase impulsively online from Internet stores. The results show that innovators were found to have a unique self‐image. They are more excitable, indulgent, contemporary, liberal and colourful. Compared to the results in Goldsmith et al.'s study, only two of the characteristics were found to be identical (contemporary and colourful). The differences in other self‐ascribed characteristics are excitable and indulgent (this study) and comfortable, pleasant and vain. The results also seem to suggest that innovativeness is related to marital status. Fashion innovators generally exhibit impulsive behaviour. They might be able to expand their scope of fashion knowledge through the Internet, not just merely through fashion magazines. However, the findings of this study showed that there is no difference between fashion innovators and non‐innovators in Internet purchase. Despite this finding, the Internet can still be used as an advertising tool to appeal to the innovators.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. 8 no. 4
Type: Research Article
ISSN: 1361-2026

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Article
Publication date: 23 October 2009

Robert Dew

This paper aims to introduce a new phenomenon related to creative motivation called creative resolve response (CRR). CRR predicts how creative motivation will vary during…

Abstract

Purpose

This paper aims to introduce a new phenomenon related to creative motivation called creative resolve response (CRR). CRR predicts how creative motivation will vary during problem solving.

Design/methodology/approach

In total, 66 MBA students were asked to respond at random intervals during different class problem‐solving activities. Participants were asked to rate on two preset scales their perceived certainty of solving the problem successfully and creativity level required. Mean creativity required responses were calculated for subgroups with different cognitive style ranges at each outcome certainty level. T‐tests were used to determine significant differences between various means.

Findings

The results suggest that creative motivation will vary systematically as a problem solver's perception of problem solving progress increases in a wax‐wane‐wax pattern.

Research limitations/implications

Post hoc analysis suggested that potentially confounding effects related to problem heterogeneity, learning effects, environment, group interaction and interviewer response bias were not significant. However the relatively small sample size and limited scope of the problem activities suggests that further research is required to establish the extent to which the findings can be generalised.

Practical implications

CRR promises a new form of extrinsic control for managers to enhance creativity via extrinsic motivation. The author makes suggestions on how managers may enhance creativity by influencing employees to reconsider their perceived level of problem‐solving progress.

Originality/value

This paper links expectancy theory, cognitive style and creative motivation, and provides an alternative approach to trying directly to motivate employees to be more creative.

Details

Journal of Management Development, vol. 28 no. 10
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 1 June 1994

Frank Alpert

Earlier research on this topic focussed on the adoption of an innovationin isolation from other innovations. Analyzes the cumulative effects ofearlier innovations on the…

Abstract

Earlier research on this topic focussed on the adoption of an innovation in isolation from other innovations. Analyzes the cumulative effects of earlier innovations on the adoption of future innovations in the same product class. It is proposed that innovators move through a series of stages, the innovator buying cycle, driven by an internal dynamic.

Details

Journal of Product & Brand Management, vol. 3 no. 2
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 18 December 2007

Shiaw‐Wen Tien, Yi‐Chan Chung, Chih‐Hung Tsai and Chung‐Yun Dong

In the competitive global market, firms have to keep profit from innovation activities. A firm makes profits by offering products or services at a lower cost than its…

Abstract

In the competitive global market, firms have to keep profit from innovation activities. A firm makes profits by offering products or services at a lower cost than its competitors or by offering differentiated products at premium prices that more than compensate for the extra cost of differentiation. The IC Package and Testing technology industries were the first high technological industry to build in Taiwan. The Package and Testing industries in Taiwan adopted competitive innovation activities to become stronger. In our study, we want to know how innovation activities influence a firm operating in the IC Package and Testing industries. Our study used a questionnaire and Likert five‐point scale to survey the innovation activities, customer and feedback in innovation performance in the IC Package and Testing industry. The wafer level chip size packing technology in our study indicates the innovation activities. Because we need to compare the difference between the wafer level chip size packing technology and wire bonding technology to recognize innovation and how the innovator and customer were influenced. Our conclusions are described below: (1) When the innovator adopts innovation activities that can be maintained using experiments and knowledge, using machine and decision variables more quickly will produce success; (2) Innovators should adopt innovation activities that focus on customers that use knowledge and experimentation, training time and cost. If an innovation forces customers to spend much time and cost to learn new technology or applications, the innovation will not be adopted; (3) Innovators that create innovation performance higher than his customers must also consider the impact upon their customers. We have to remind innovator to focus on why their customers have a different level of evolution in the same innovation activities.

Details

Asian Journal on Quality, vol. 8 no. 3
Type: Research Article
ISSN: 1598-2688

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Article
Publication date: 11 July 2016

Zonghui Li and Joshua J. Daspit

In family business studies, inconsistent findings exist regarding the relationship between family involvement and firm innovation. The purpose of this paper is to…

Abstract

Purpose

In family business studies, inconsistent findings exist regarding the relationship between family involvement and firm innovation. The purpose of this paper is to understand the heterogeneity of family firm innovation.

Design/methodology/approach

The authors draw on governance literature and the socioemotional wealth (SEW) perspective to examine how the extent of family governance and the type of SEW objectives jointly influence innovation strategies in family firms.

Findings

The authors develop a typology of family firm innovation strategies, positing that the family firm’s risk orientation, innovation goal, and knowledge diversity vary depending on the degree of family involvement in governance and the type of SEW objective. The authors propose that four family firm innovation strategies (e.g. Limited Innovators, Intended Innovators, Potential Innovators, and Active Innovators) emerge when family involvement in the dominant coalition (high or low) is contrasted with the SEW objective (restricted or extended) pursued by the family.

Practical implications

Understanding how governance and SEW goals work together to influence the firm’s innovation strategies is potentially valuable for managers of family firms. The authors offer practical suggestions for how to strategically reposition the firm to pursue innovation strategies more in line with those of the Active Innovator.

Originality/value

This study contributes to the family business literature by using a multi-dimensional approach to examine family firm heterogeneity. In addition, by articulating various family firm innovation strategies, the authors offer insight into the previously inconsistent findings concerning firm innovation behavior and outcomes in family business studies.

Details

Journal of Family Business Management, vol. 6 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

Content available
Article
Publication date: 1 March 2008

Kevin LaMont Johnson, Wade M. Danis and Marc J. Dollinger

In this study we confirm the often assumed but largely untested belief that entrepreneurs think and behave differently than others. We examine a group of more than 700…

Abstract

In this study we confirm the often assumed but largely untested belief that entrepreneurs think and behave differently than others. We examine a group of more than 700 nascent entrepreneurs and 400 nonentrepreneurs. We determine the entrepreneurs’ cognitive style propensity for problem solving (Innovator versus Adaptor); we compare their expectations; and, we examine the outcomes (performance and start-up) of their ventures. We find that nascent entrepreneurs are more likely to be overly optimistic Innovators, most people are Adaptors, and oneʼs cognitive style can indeed play a role in the initial development and outcome for the venture, but not always as expected.

Details

New England Journal of Entrepreneurship, vol. 11 no. 2
Type: Research Article
ISSN: 2574-8904

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Article
Publication date: 7 August 2007

Heath McDonald and Frank Alpert

This paper aims to bring together and evaluate the reasons that have historically been advanced to justify the heavy emphasis on innovative consumers within the general…

Abstract

Purpose

This paper aims to bring together and evaluate the reasons that have historically been advanced to justify the heavy emphasis on innovative consumers within the general context of the adoption of products and services, and to assess the strategic benefits to be gained from targeting such market segments.

Design/methodology/approach

The approach is critical review and analysis of the published literature.

Findings

This paper finds that, although the benefits of identifying innovative early adopters are not as strong and clear‐cut as is often claimed, they are still sufficient to warrant further research into methods that will accurately identify them and predict their purchasing behaviour.

Practical implications

Targeting strategies should distinguish carefully between truly innovative consumers and other early adopters. The costs of identifying them in a particular market need to be weighed against the potential benefits.

Originality/value

Although many studies have attempted to address the question of what drives individual adoption behaviour, the rationale for that focus has not been well established and is rarely critiqued. In clarifying the situation, this paper should provide guidance for academic researchers and marketing planners.

Details

Marketing Intelligence & Planning, vol. 25 no. 5
Type: Research Article
ISSN: 0263-4503

Keywords

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