University Knowledge, Originality of Patents and the Creation of New Industries

Marco Guerzoni (marco.guerzoni@unimib.it), T. Aldridge, David Audretsch (daudrets@indiana.edu) and Sameeksha Desai (desai@indiana.edu)

Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP series from University of Turin

Abstract: Scientific breakthroughs emanating from universities can be a trigger for the emergence of new industries such as in the paradigmatic case of biotechnology. Obviously, not all research conducted in the universities leads to radical departure from the existing technological trajectories. When a patent protection is granted to a discovery, it is possible to construct a proxy for the originality of the discovery based on patent citations. Patent originality has been long recognized in fostering the emergence of new technologies and industries. However, while a large body of literature exists measuring the impact of patent originality on a broad range of measures of firm performance, this paper aims at investigating the conditions driving patent originality. In particular, in providing the first empirical examination of the determinants of patent originality, this paper finds that the research context, as reflected by the funding source for the scientist, influences the extent to which intellectual property protected by a patent is original. Eventually, we propose that university scientists funded by their university, which has a more fundamental mission, have a higher propensity to generate patents that are more original. By contrast, university scientists funded either by industry or other non-university organizations have a lower propensity to generate more original patents.

Pages: 28 pages
Date: 2012-12
New Economics Papers: this item is included in nep-cse, nep-ino, nep-ipr, nep-pr~, nep-knm and nep-tid
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Citations: View citations in EconPapers (1)

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