Table of Contents

Business Innovation and the Law

Business Innovation and the Law

Perspectives from Intellectual Property, Labour, Competition and Corporate Law

Edited by Marilyn Pittard, Ann L. Monotti and John Duns

Business Innovation and the Law analyses the topical issue of protecting and promoting business research and development. It does so by examining business innovation through the lens of different legal disciplines – intellectual property, labour and employment laws, competition and corporate laws.

Chapter 28: Institutions and innovation: is corporate governance the missing link?

Simon Deakin and Andrea Mina

Subjects: law - academic, competition and antitrust law, corporate law and governance, intellectual property law, labour, employment law


Innovation has been identified as an engine of growth in different areas of research in economics, business and management, and its positive effects have been theorized and observed at different levels of aggregation. Among the research streams that are most relevant to this theme, evolutionary theories of the fir, Schumpeterian frameworks (Old and New, European and North American) and the innovation systems literature have made fundamental contributions to the modern understanding of innovation and economic change. Evolutionary theory has also been discussed in prominent contributions to institutional economics. Many gaps in the literature do, however, remain on (1) the finer mechanisms through which specific institutional arrangements influence and are influenced by innovation, and (2) the policy and business challenge of aligning the legal framework and the needs of innovation-driven growth. In the field of law and economics, a growing body of work is looking at the relationship between firm-level corporate governance arrangements and the institutional framework at the level of company and employment law. The legal origins hypothesis maintains that the legal infrastructure of a given country – its constitution, its court system, the nature of its legislature, and the structure of the legal professions – shapes the content of its laws on, among other things, corporate governance, with consequences for economic development. The connection between the two debates – innovation on the one hand, and corporate governance on the other – has been made in the work of William Lazonick and Mary O’Sullivan, but with few other exceptions it has remained vastly under-researched relative to other aspects of the broad legal framework that constrains and enables firm behaviour (for example, in comparison with intellectual property rights).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information