The importance (or not) of patents to UK firms(Article)(Open Access)
- aDepartment of Economics, University of California at Berkeley, Berkeley, CA 94720, United States
- bUniversity of Maastricht, Netherlands
- cUniversidad Carlos III de Madrid, SERC LSE, Spain
- dFormerly Harris Manchester College, Oxford University, United Kingdom
- eUniversity of Essex, United Kingdom
Abstract
A surprisingly small number of innovative firms use the patent system. In the UK, the share of firms patenting among those reporting that they have innovated is about 4%. Survey data from the same firms support the idea that they do not consider patents or other forms of registered IP as important as informal IP for protecting inventions. We show that there are a number of explanations for these findings: most firms are SMEs, many innovations are new to the firm, but not to the market, and many sectors are not patent active. We find evidence pointing to a positive association between patenting and innovative performance measured as turnover due to innovation, but not between patenting and subsequent employment growth. The analysis relies on a new integrated dataset for the UK that combines a range of data sources into a panel at the enterprise level. © Oxford University Press 2013.
Indexed keywords
| GEOBASE Subject Index: | industrial enterpriseinnovationintellectual property rightsmarketsmall and medium-sized enterprise |
|---|---|
| Regional Index: | United Kingdom |
- ISSN: 00307653
- CODEN: OXEPA
- Source Type: Journal
- Original language: English
- DOI: 10.1093/oep/gpt012
- Document Type: Article
Hall, B.H.; Department of Economics, University of California at Berkeley, United States;
© Copyright 2013 Elsevier B.V., All rights reserved.
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