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Ove Granstrand

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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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Ove Granstrand

IC is of major, if not dominant, importance in advanced economies. Adoption of capitalist institutions and pro-innovation policies worldwide. Intellectual capitalism as a knowledge-based capitalist economy has emerged, promoting a strong (and criticized) IP regime with strong growth of registered IPRs. Sweden, S. Korea, Switzerland and the US rank highest on innovation spiral variables, and these variables were all positively correlated, except for growth, which was uncorrelated. Small and mostly old Western European countries were found to dominate the set of top ten countries regarding entrepreneurship, quality of government, competitiveness, rule of law and democracy, and EU countries dominated among the top ten regarding quantity of government. Quantity of government was statistically disconnected from all innovation spiral variables as well as from quality of government. Strong innovation spirals appeared to be associated with small countries with high quality democratic governments and strong rule of law while large low quality governments were associated with weak innovation spirals.

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Ove Granstrand

Review of innovation related typologies and models analytical framework. Introduction to innovation and patent economics at micro and macro levels. Overview of the multi-national patent system and its institutional structure.

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Ove Granstrand

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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Ove Granstrand

A first national Swedish government investigation consisted of about a dozen sub-studies of different aspects of the innovation spiral using triangulation with statistics, questionnaires, surveys, case studies, interviews and patent information analysis. A second international investigation with field studies in selected countries with about 200 interview visits, complemented by international statistics of innovation spiral variables.

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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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Ove Granstrand

Internationalization of patenting routes and patenting work in MNCs and decrease of incoming patent applications for PTOs in small countries despite the overall patenting surge during the pro-patent era. The annual turnover of applicants was very high, partly due to annual fluctuations in patenting frequency at company and individual level, depending in turn on the flow of patentable resources. The decrease in national applications in Sweden in the early 2000s also varied across technologies with a particular downturn in the ICT area, partly due to the IT bubble burst. Changes in R & D and patenting resources were important internal determinants behind both upward and downward changes in patenting frequency for both large and small companies. A strategy change from quantity-oriented patenting during the 1990s to more selective and quality-oriented patenting also decreased patenting propensity as did a decreased supply of venture capital for SMEs. Finally, Sweden has during 1996–2014 maintained a fairly steady rank as about number 11 among nations regarding patenting frequency in the US, while the Asian countries S. Korea, Taiwan, India and especially China have made rapid climbs on that ladder, joining Japan on the highest ten rungs.

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Ove Granstrand

A changing economy calls for changing institutional roles, e.g. regarding the role of governments and transnational institutions. Develop a national culture for IP and I & E, strengthen the different types of entrepreneurship (independent, corporate, state, university) and innovation systems (national, sectorial, regional, corporate, military, university) and promote the different forms of open innovation through various means. Support the harmonization of the international patent system, the PCT system and the European UP and UPC and the rationalization of the international patent office organization and the European IP litigation system. Change certain aspects of patentability criteria. Create a national strategy council for innovations and IP.