What impact does intellectual property have on the business performance of technology firms?

Abstract

This paper reports the results of an original empirical study of the relationship between intellectual property and the financial performance of technology firms in the bioscience-technology industries. The study found a statistically significant positive relationship between the firms' investments in intellectual property and their performance. The performance measure was based upon revenue-growth data collected from each firm, and the categories of intellectual property analyzed included patents, trade secrets, trademarks, copyright and licenses to externally sourced technology. The study also found that the financial benefits of accumulating a strong intellectual property portfolio were enjoyed by technology firms regardless of whether they were strategically oriented towards R&D or strategically oriented towards the commercial production of products and services. His research and teaching concentrate on the management of intellectual property, technology-based entrepreneurship, and strategic planning for technology-based industry development. He holds doctorates in both strategic management and technology studies, and a master of laws degree in intellectual property law. Professor Willoughby has extensive experience as an educator, researcher, consultant and program leader in the United States, Europe, Asia and Australia, including a variety of university-industry collaboration projects, technology commercialization projects and executive education projects. the production of goods or services-makes any difference to the level and character of the impact of intellectual property on its business performance.

The Roles of Academic Inventors in Medical Innovation Processes: Exploring the Influence of Ipr Ownership and Ip Nature

“…Our findings clearly show that non-patentable inventions too can create incentives for inventors and even entail in general higher role intensities compared with patentable IP (Table 3). Consequently, our findings do not support the sectorial or contextual argument (Artz et al, 2010;Willoughby, 2013) at least not in medical field, where both patentable and non-patentable inventions seem to create incentives for inventors, although future profits are clearer in patentable IP and create monopoly power (Clancy and Moschini, 2013). This is an important contribution towards improving our understanding of innovation processes aiming to exploit non-patentable IP in such important fields as medicine.…”

“…Some findings also indicate that the importance of patents may be dependent on the context (Artz et al, 2010) or the sector (Willoughby, 2013), implying that patents are more important for some context or sectors. Indeed, the impact of patentability is especially highlighted in medical research where patentable IP is viewed as a requirement for commercial exploitation (Colyvas et al, 2002;Garber et al, 2006;Pressman et al, 2006;Smith Hughes, 2001).…”

Devising an integrated approach to assessing the indicators of personnel innovativeness under conditions of innovative development of an enterprise

“…Only some scientists evaluate the effectiveness of the innovation activity of an enterprise. In particular, study [13] revealed a statistically significant positive relationship between enterprise investments in intellectual property and their results. In this case, one group of effectiveness indicators was based on the data on the income growth of enterprises.…”

“…The devised integrated approach to assessing the indicators of innovativeness of the company's personnel differs from those discussed in this study [8][9][10][11][12][13][14][15][16] by the fact that:…”

“…To generate the indicators of the effectiveness of innovation activity of employees, we used the method of relative values. The results of study [13] were taken into consideration when designing separate indicators of the effectiveness of the commercialization of innovative products. To match indicators that have different units of measurement, the minimax method was used.…”