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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 5: Patents, innovations and growth – empirical analysis

Ove Granstrand


Several structural problems existed in the Swedish national innovation system, such as heavy dominance of large firms in R & D and innovation, too few major innovations, especially in new rather than existing business areas, too few mid-sized innovative companies and difficulties for innovative companies to grow into large ones, new innovative large companies and rapidly increasing foreign ownership of innovative companies. Various forms of open innovation were prevalent and important. Patents played no role in fast growing SMEs in general, a minor role in IT companies and a major role in high-tech SMEs and large firms. Much of company sales and most inventions were protected by patents in large firms, for whom their R & D would be reduced by about a third and their sales by about a fourth in the absence of a patent system. The elasticity of innovation spiral variable relationships was clearly positive for large firms. The demand and supply of patent and IP education was deficient and not in accordance with the role of patents and IP in the economy.

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