Learning from Innovation in the Health Industry
Edited by Marco R. Di Tommaso and Stuart O. Schweitzer
Chapter 5: Recent Developments in Universities Regarding Intellectual Capital and Intellectual Property
* Emidia Vagnoni, James Guthrie and Peter Steane 1 INTRODUCTION The western world has entered what is commonly referred to as the ‘knowledge age’, where information and ideas have overtaken agricultural produce and manufactured goods as key commodities (Dunford et al., 2001). National wealth and economic strength are now being measured in terms of knowledge, its usefulness and the speed with which it can be applied. Nations are being forced to compete in a global information economy where ideas, information and knowledge have no boundaries, instead multiplying and growing at a hectic pace (Petty and Guthrie, 2000). Intellectual capital (IC) and its legal counterpart, intellectual property (IP) are increasingly being seen to have an inﬂuence on the overall economy of nations. Essentially demands of globalization and rapid advances in technology have led to national leaders calling on their nations to become ‘knowledge economies’. The very words ‘knowledge economy’ bring universities, as the producers and transmitters of knowledge, to the forefront of the political and public arena. At the same time universities are experiencing cutbacks in government funding, forcing them to ﬁnd alternative means to meet demand while maintaining their integrity. Alongside this development, the university sector internationally has also come under pressure to become more ‘relevant’, to establish commercial partnerships and to collaborate in research endeavours (OECD, 1998). These collaborations can be with other universities, third sector non-proﬁt organizations or private sector proﬁt-making organizations. In this knowledge-based world, value and the maintenance of a competitive edge depends more...
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