Innovation strategy and the patenting behavior of firms
Peeters, Carine Van Pottelsberghe, B.
Peeters, Carine
Van Pottelsberghe, B.
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2006
Journal
Journal of Evolutionary Economics
Book
Publication Volume
16
Publication Issue
1-2
Publication Begin page
109
Publication End page
135
Publication Number of pages
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Abstract
This paper investigates whether firms’ innovation strategies affect their patenting behavior, as measured by both the probability of having a patent portfolio and the number of active patents held. Three main dimensions of an innovation strategy are taken into account: the relative importance of basic research, applied research and development work in total R&D activities, the product or process orientation of innovation efforts, and the extent to which firms enter into collaborative R&D with other institutions. The major findings can be summarized as follows: (1) taking into account the various dimensions of an innovation strategy turns out to approximate the patenting behavior of firms better than the traditional Schumpeterian hypotheses related to firm size and market power; (2) there is a positive relationship between the patent portfolio of firms and an outward-oriented innovation strategy characterized by R&D partnerships with external organizations - scientific institutions and competitors in particular; (3) process-oriented innovators patent less than product-oriented innovators; (4) a stronger focus on basic and applied research is associated with a more active patenting behavior; (5) firms that perceive high barriers to innovation (internal, risk-related or external barriers) have smaller patent portfolios; (6) the perceived limitations of the patent system do not significantly influence the patenting behavior, suggesting that firms patent for other strategic reasons than merely protecting innovation rents.
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Keywords
Product Innovation, Innovation Strategy, Collaborative R&D, Patent Portfolio, Patent System