Patents and Innovations for Growth and Welfare
Chapter 11: Global innovation and intellectual capitalism
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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