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| Author: | Davis, L. |
| Title: | Intellectual property rights, strategy and policy |
| Journal: | Economics of innovation and new technology
2004 : JUL, VOL. 13:5, p. 399-415 |
| Index terms: | Patents Innovation R&D Strategy Policy |
| Freeterms: | Intellectual property rights |
| Language: | eng |
| Abstract: | This introductory of this Special issue on 'The changing role of intellectual property rights' (IPRs) explores the changing role of IPRs, and the implications of these changes for firm strategy and industrial policy. Four recent, interrelated trends are important in this regard: 1. the growing prominence of intangible assets as sources of competitive advantage, 2. the globalization of business activities, 3. advances in digital technologies of replicability and transferability, and 4. changes in the legal framework governing the strength and scope of IPRs. This study focuses, in particular, on the impact of these trends on the importance and effectiveness of patents. It is argued that while patents have become more valuable to firms, to fulfill a variety of strategic goals, they seem to have become less effective in actually motivating R&D. This distorts the 'bargain' implied by the patent system, increasing the social costs of patenting while decreasing the social benefits. To help restore this balance, various reforms may be implemented, incl. use of alternative incentive systems. |
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