The Role of Intellectual Property Rights in the UK Market Sector

Investment in training and skills for innovation in entrepreneurial start-ups and incumbents: evidence from the United Kingdom

“…Estimates of the returns to training and skills have always raised significant attention among academic researchers, patent offices and policy makers. As the number of patent applications has increased in Europe, Japan and the US (Kortum and Lerner 1999;EPO Annual Report 2003), knowledge expenditure as an asset has become an integral part of a firm's market value (Farooqui et al 2011). Policy-makers have argued that the models estimating the value of patents, training and education using simple application or grant numbers and a bivariate choice of whether to invest in training and education (Giavanetti and Piga 2017) as an indication of innovativeness are no longer satisfactory.…”

“…Moreover, most of the indicators used for innovative outcomes are skewed to the left of the normal distribution, which means that major parts of firms exhibiting zero innovation outputs. While there have been many studies on identifying the returns to training and skills (Eaton andKortum 1999, Schankerman 1998;Arora et al 2008) and even some working with the UK data on innovative companies and R&D performers (Farooqui et al 2011;Arora and Nandkumar 2011;Arora and Athreye 2012), the returns to innovative training have not yet been precisely identified. At the same time there is another research gap between the effect of patent protection in inducing more training and education expenditure relevant for managerial policy.…”

Intellectual Property Government Open Data: Australian Business Number Links to All Intellectual Property Data in Australia

“…As the importance of IP continues to grow, there are multiple strands of research emerging to inform policy and explain growth in the globalised twenty‐first century. There is a growing literature linking intangible investment to IP rights (Farooqui, Goodridge and Haskel ), innovation to IP rights (for example, Jensen and Webster ; Greenhalgh and Rogers ; Hsieh ; Thomson ) and the impact that IP rights have on firm performance (Bascavusoglu‐Moreau and Tether ; Thomson and Webster ). This is just the beginning though, and as linked micro data become available, we will hopefully understand more of what drives productivity and firm performance.…”