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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 11: Global innovation and intellectual capitalism

Ove Granstrand

Extract

A number of global challenges were identified together with examples of technologies relevant for both solutions and aggravation. Nationalistic innovation policies have to be complemented by transnational innovation policies and collaborations in a global innovation system for meeting global challenges. IPRs can play an important role for innovation governance in complex innovation systems. The basic existence of the patent and IPR system is not threatened despite much critique and challenges ahead with several conceivable future developments, and is an integral evolving part of intellectual capitalism, which is likely to characterize the world economy for years ahead, notwithstanding difficulties to account for intellectual capital and its fluctuations. Other capitalist institutions will likely prevail as well and become increasingly internationalized together with increasing multinational integrations of nation states and government agencies. More mixed capitalist economies with a larger role for high quality governments and inter-governmental collaborations might be needed in face of global challenges, as might institutional innovations.

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