The intangible capitalist economy, that is intellectual capitalism, continues evolving, driven by technological innovations and various forms of entrepreneurship. The creation of intellectual capital and intellectual properties lies at its heart. This eagerly anticipated book analyzes the many complex links between R&D, patents, innovations, entrepreneurship, growth and value creation in this process.
Based on an extensive array of national empirical and policy studies, Ove Granstrand explores a comprehensive range of innovation and intellectual property (IP) issues that pertain not only to Europe but to the entire world. These issues include the role of patents and licensing in the governance of technology and innovation, and the many uses and abuses of patents. The text also details 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, this book contains a set of valuable policy recommendations for strengthening innovativeness for economic growth and ultimately for social value creation.
This timely book will be a valuable resource for economics, law and management scholars wishing to gain a thorough understanding of the topic. Practitioners and policy-makers will also greatly benefit from reading this volume, following up on the author’s widely acclaimed book published in 1999 The Economics and Management of Intellectual Property: Towards Intellectual Capitalism.
‘Ove Granstrand’s excellent monograph titled Evolving Properties of Intellectual Capitalism: Patents and Innovation for Growth and Welfare explores how the innovation system works in advanced economics. At its core is the concept of the “innovation spiral” that depicts thfe interdependence amongst R&D/knowledge, patents/IP, innovation and economic growth and welfare. Its focus on the neglected topic of intangible assets and intellectual capital is timely. The author’s focus is primarily European but the relevance of his work is global. The book is a must read for policymakers, a handy reference for managers, and a useful guide for students wishing to understand the many element of innovation policy.’
– David Teece, Berkeley Research Group, US
‘Ove Granstrand’s new book is both a broad and deep treatment of his subject. A general reader may value this original and important work for its international comparisons and its treatment of policy as well as more familiar economic issues. A reader with interest in the details of intellectual property may value the work for the penetrating questions asked in the author’s research and the wealth of detail and evidence presented. The book is important in its advocacy of seeing patents as a dynamic factor influencing innovation rather than as simply having a static and protective role. Granstrand’s treatment will be valuable to executive and political audiences as well as lawyers and economists.’
– James M. Utterback, Massachusetts Institute of Technology, US
‘This is Ove Granstrand’s best and most profound work to date. He casts intellectual capitalism as a global system, interfacing a variety of national policy regimes. He shows why the pro-patent era is also pro-licensing, as increasing spatial and organizational interdependencies necessitate shifts in governance structures.’
– John Cantwell, Rutgers University, US
‘This is a must-read book because it provides a comprehensive, deep and articulated analysis of the dynamic link between R&D, patents, innovation, growth and welfare. It is an extremely welcome contribution because these dimensions have often been kept disconnected in both economic analysis and public policy discussion. This volume successfully bridges this gap.’
– Franco Malerba, Bocconi University, Italy