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Evolving properties of intellectual capitalism

Patents and Innovations for Growth and Welfare

Ove Granstrand

Intellectual capitalism is evolving, driving and driven by technological innovations and various forms of entrepreneruship. The purpose of this eagerly anticipated book is to analyze the linkages between R & D, patents, innovations, entrepreneurship and growth. Based on a large array of national empirical and policy studies, it elaborates on a comprehensive range of innovation and IP issues that are pertinent not only to Europe but to the world as a whole. These issues include the role of patents and licensing in the governance of technology and innovation, and the various uses and abuses of patents. It further elaborates on new IP phenomena in an increasingly patent-intensive world with patent-rich multinationals and patent-savvy new entrants from Asia. In a world facing challenges that call for innovative responses, the book contains a set of valuable policy recommendations for strengthening innovativeness for economic growth and ultimately for social value creation.
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Chapter 3: Patents and innovations for growth and welfare – a literature review

Ove Granstrand

Extract

Micro-motives for using the patent system by and large aligned with macro-motives for having a patent system, albeit with new uses and abuses after the advent of the pro-patent era, calling for new perspectives on the patent system and its trade-offs. A new view is that the patent system provides a contractual infrastructure and a governance mechanism besides incentivizing technological innovations and their diffusion. The literature points at several paradoxes in the innovation spiral – a patenting paradox at both macro- and micro-level, growth and productivity paradoxes and Easterlin’s paradox. All in all R & D (and especially technological diversification) contribute strongly to patents, innovations and (recombinant) growth, with clearly positive links throughout in the innovation spiral on average in recent literature.

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