The importance (or not) of patents to UK firms
No 410, National Institute of Economic and Social Research (NIESR) Discussion Papers from National Institute of Economic and Social Research
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.
Keywords: patents; innovation; UK (search for similar items in EconPapers)
JEL-codes: L21 L25 O34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-cse, nep-ent, nep-ino, nep-ipr, nep-pr~, nep-sbm and nep-tid
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Journal Article: The importance (or not) of patents to UK firms (2013)
Working Paper: The Importance (or not) of Patents to UK Firms (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:nsr:niesrd:11449
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