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Granstrand, Ove --- "Patents and Policies for Innovations and Entrepreneurship" [2009] ELECD 237; in Takenka, Toshiko (ed), "Patent Law and Theory" (Edward Elgar Publishing, 2009)

Book Title: Patent Law and Theory

Editor(s): Takenka, Toshiko

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845424138

Section: Chapter 2

Section Title: Patents and Policies for Innovations and Entrepreneurship

Author(s): Granstrand, Ove

Number of pages: 35

Extract:

2 Patents and policies for innovations and
entrepreneurship1
Ove Granstrand



1 Introduction
While few observers nowadays question the emergence of an ever more
knowledge-based economy, the expression `the new economy' can be ques-
tioned. What is `new' is the fact that the economy has come to be dominated
by intellectual capital in different forms (human, relational, intellectual prop-
erty (IP) etc.) ­ together defined as non-physical, non-financial capital, which
is related mainly to long-run accumulation of valuable knowledge ­ technical
knowledge (i.e. technology) in particular (e.g. information and communication
technologies), knowledge which is embedded in innovations launched by
entrepreneurs, especially corporate entrepreneurs. At the same time, tradi-
tional capitalistic institutions have not only survived but become strengthened
and globalized after the downfall of the Soviet empire. Intellectual property
(IP) and legal rights to it (`IPRs') have consequently become much more
important, and a new IP regime, including a `pro-patent era', has developed
since the 1980s, originating in the US. Its effects are pervasive at various
levels, not least internationally. Countries and companies arm themselves with
strengthened IP rights as competitive means, at present with the USA and
Japan in the lead. Patent and IP issues, once obscure secondary questions for
specialists, have thereby become strategic and risen to high levels of political
and industrial management. On the other hand, there are difficulties in inte-
grating these issues with other economic policies and company strategies ­
although these difficulties appear by and large to be temporary. A ...