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Article
Publication date: 25 October 2011

Richard Reed and Susan F. Storrud‐Barnes

The paper's aim is to build a model that predicts the optimum tactics for capitalizing on inventions within the context of competitive interaction among large firms. For…

Abstract

Purpose

The paper's aim is to build a model that predicts the optimum tactics for capitalizing on inventions within the context of competitive interaction among large firms. For patenting, the paper seeks to show how invention value and firm rivalry drive the tactics of competing, deterring competitors, retreating from markets, and cooperating. It also aims to explore the effects of the contingencies of patent bulking, technology complexity, spheres of influence, resource similarity, and complementary‐resource tacitness.

Design/methodology/approach

The work is conceptual.

Findings

The base model shows that patenting can be used to protect markets where there is high invention‐value and high rivalry. When both invention‐value and rivalry are low, the best tactic is to cooperate. When value is high and rivalry low, patenting can be used as a signaling and deterring mechanism, but when value is low and rivalry is high the best option is to let patents lapse and retreat from markets. The moderating effects of patent bulking, technology complexity, spheres of influence, resource similarity, and complementary‐resource tacitness affect rivalry and the amount of patenting that will be done.

Research limitations/implications

The paper provides propositions for empirical testing that are predictive of firm performance, rivalry, and patent bulking. Despite the authors' attention to key contingencies, it is impossible to be completely comprehensive in addressing all contingencies.

Practical implications

The framework provides tactics for competing and, consequently, maximizing income and minimizing costs.

Originality/value

The work synthesizes extant thinking on patents and multipoint competition. While the base model should be valuable for managers, the overall work should be valuable for academics.

Details

Journal of Strategy and Management, vol. 4 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

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Book part
Publication date: 1 October 2007

Mattias Ganslandt

Intellectual property rights and competition policy are intimately related. In this chapter I survey the economic literature analyzing the interaction between intellectual…

Abstract

Intellectual property rights and competition policy are intimately related. In this chapter I survey the economic literature analyzing the interaction between intellectual property law and competition law and how the boundary between these two policies is drawn in practice. Recognizing that intellectual property rights and competition law can interact in many different ways, the presentation focuses on several key issues. The economic literature on the interaction between competition law and intellectual property rights shows that these regulatory systems are consistent in terms of basic principles. Significant tensions exist, however, and it is difficult to balance IPR and competition law in practice. The significant differences in approach between the United States and the European Union simply reflect the underlying reality that efforts to achieve a sensible balance do not result in policy harmonization.

Details

Intellectual Property, Growth and Trade
Type: Book
ISBN: 978-1-84950-539-0

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Article
Publication date: 6 November 2017

David Youngberg

The purpose of this paper is to propose a system for regularly offered government-sponsored technology prizes. Such prizes would preserve the incentive to invent without…

Abstract

Purpose

The purpose of this paper is to propose a system for regularly offered government-sponsored technology prizes. Such prizes would preserve the incentive to invent without the barriers to entry that come with the patent system. This is of particular interest to entrepreneurs as they lack the patent portfolio that incumbent firms can leverage into derivative technology.

Design/methodology/approach

After reviewing various efficiency concerns with the patent system, the author describes how technology prizes could work alongside the patent system. Such prizes are best when the sponsor can capture as much of the technology spillover as possible – i.e. through a government agency. This paper provides a framework for a practical prize structure while paying special attention to combating the logistical and public choice concerns of creating a prize.

Findings

This paper focuses on two methods to prevent inefficiency in government-sponsored prize: truth-bonding and information markets. Each mechanism helps combat different kinds of problems. Various complications to this system are explored and addressed.

Practical implications

The paper suggests that an efficient prize system is a possible policy and, if implemented, would embolden technology-focused entrepreneurship and other subsequent technological development.

Originality/value

While previous work has noted the benefits of technology prizes over patents, few attempts have been made to outline an incentive-compatible system for doing so. This paper is the first of its kind to propose a practical and efficient government-sponsored prize system.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 3
Type: Research Article
ISSN: 2045-2101

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Book part
Publication date: 26 February 2008

Margo A. Bagley

This chapter discusses current issues raised by the use of patents in university-industry technology commercialization. After introducing how patent laws operate in the…

Abstract

This chapter discusses current issues raised by the use of patents in university-industry technology commercialization. After introducing how patent laws operate in the global marketplace, this chapter provides an overview of the U.S. patent system, describing aspects of the process by which patents are obtained and enforced. The focus of the chapter then turns to some of the benefits and costs to academia of the impact of the Bayh-Dole Act, which allows universities to capture returns from federally funded research. The chapter identifies some of the challenges created by the expanding scope of subject matter eligible for patent protection and concludes with a discussion of some of the issues and opportunities associated with the strategic licensing and enforcement of patents that may impact invention and innovation in the academy and beyond.

Details

Technological Innovation: Generating Economic Results
Type: Book
ISBN: 978-1-84950-532-1

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Book part
Publication date: 1 October 2007

Walter G. Park

This chapter provides a selective survey of the theoretical and empirical literature to date on the relationship between intellectual property rights (IPRs) and measures…

Abstract

This chapter provides a selective survey of the theoretical and empirical literature to date on the relationship between intellectual property rights (IPRs) and measures of innovation and international technology transfer. The chapter discusses the empirical implications of theoretical work, assesses the theoretical work based on the evidence available, and identifies some gaps in the existing literature.

Details

Intellectual Property, Growth and Trade
Type: Book
ISBN: 978-1-84950-539-0

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Book part
Publication date: 22 September 2009

Rosemarie H. Ziedonis

Scholars of business, economics, and law have long recognized that rights to intellectual property (IP) intimately shape innovative activity and the pursuit of profits…

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)

Details

Economic Institutions of Strategy
Type: Book
ISBN: 978-1-84855-487-0

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Book part
Publication date: 19 September 2014

George Chondrakis and Tomas Farchi

This article explores the effect of technological similarity in acquisitions on invention quantity and quality. In doing so, we confirm previous findings in the literature…

Abstract

This article explores the effect of technological similarity in acquisitions on invention quantity and quality. In doing so, we confirm previous findings in the literature suggesting that technological similarity exhibits an inverted U-shaped relationship with innovative output and a negative relationship with average invention quality. However, we identify the nature of the technology as an important moderating factor for both relationships. We distinguish between two types of technologies, complex and discrete, and suggest that at high levels of technological similarity, invention quantity and average quality increase more in complex technology industries as compared to discrete technology industries. These effects are attributed to innovation cumulativeness and the interdependencies developed between patent rights in complex technology settings. A study of acquisition and patenting activity in two industries over a sixteen-year period provides empirical support to our claims.

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-1-78350-970-6

Keywords

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Book part
Publication date: 21 August 2012

Ryan Lampe and Petra Moser

Purpose – This chapter examines the licensing behavior of patent pools when they are unconstrained by antitrust rules.Design/methodology/approach – Patent pools allow…

Abstract

Purpose – This chapter examines the licensing behavior of patent pools when they are unconstrained by antitrust rules.

Design/methodology/approach – Patent pools allow competing firms to combine their patents and license them as a package to outside firms. Regulators today favor pools that license their patents freely to outside firms, making it difficult to observe the unconstrained licensing strategies of patent pools. This chapter takes advantage of a unique period of regulatory tolerance during the New Deal to investigate the unconstrained licensing decisions of pools. Archival evidence suggests that – in the absence of regulation – pools may not choose to license their technologies.

Findings/originality/value – Eleven of twenty pools that formed between 1930 and 1938 did not issue any licenses to outside firms. Three pools granted one, two, and three licenses, respectively, to resolve litigation. Six pools issued between 9 and 185 licenses. Archival evidence suggests that the pools studied in this chapter used licensing as a means to limit competition with substitute technologies.

Details

History and Strategy
Type: Book
ISBN: 978-1-78190-024-6

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Book part
Publication date: 1 October 2007

Jonathan Putnam

I begin with a dispute over a fox hunt, by which to understand the law of tangible property, then develop that metaphor for the major types of intellectual property. I…

Abstract

I begin with a dispute over a fox hunt, by which to understand the law of tangible property, then develop that metaphor for the major types of intellectual property. I start with domestic U.S. patent law for the sake of concreteness, and generalize to other jurisdictions and types of intellectual property. In the latter parts of the paper I discuss the international implications of intellectual property, including especially the effects of information spillovers. The last part of the paper describes the hazards in analogizing “trade” in intellectual property rights to trade in goods, and particularly in interpreting international patent data. These hazards motivate the search for a structural model specially adapted to the purpose of valuing international intellectual property rights and rules. The goal is to give economists a simple and integrated framework for analyzing intellectual property across time, jurisdiction and regime type, with an eye towards eventually developing other incentive systems that have the advantages of property (such as decentralized decision-making), but fewer of the disadvantages.

Details

Intellectual Property, Growth and Trade
Type: Book
ISBN: 978-1-84950-539-0

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Article
Publication date: 2 September 2020

Beatrice Orlando, Luca Vincenzo Ballestra, Domitilla Magni and Francesco Ciampi

The study aims to explore the interplay between open innovation and intellectual property. Differently from previous studies, we argue that open innovation fosters firm's…

Abstract

Purpose

The study aims to explore the interplay between open innovation and intellectual property. Differently from previous studies, we argue that open innovation fosters firm's patenting activity.

Design/methodology/approach

We use linear regression analysis to test model's hypotheses. Data are drawn from the Eurostat statistics and refer to a large sample of European firms (NACE Rev.2).

Findings

The findings confirm that open innovation fosters patenting activity in health care, also thanks to huge governments' expenditures in this market.

Research limitations/implications

The study focuses solely on European firms and it adopts a traditional linear approach. So, we cannot exclude that different dynamics may occur across European borders. Future research should address this concern by focusing on multi-country comparative studies.

Practical implications

Open innovation is the most suitable model for health industry, because it improves both innovation performance and intellectual capital of firms.

Originality/value

The study tackles an existing gap of the literature by considering how the presence of large customers impacts the strength of intellectual property protection.

Details

Journal of Intellectual Capital, vol. 22 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

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