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Intellectual Property Commercialization

Policy Options and Practical Instruments

image of Intellectual Property Commercialization
Innovation is the key driver of economic growth and development. A well-balanced, affordable and reliable system of intellectual property rights is needed to protect the — often large and highly risky — investments of innovative and creative companies against potential imitators and thereby provide key incentives to undertake such investments in the first place. Countries with economies in transition face particular challenges to integrate into global production networks and to find their own niche in the increasingly global value chains. This publication discusses intellectual property management and focuses on the challenges that research organizations and small/medium enterprises face in using the intellectual property system, particularly in transition countries, and on the policy options available to support them.

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Intellectual property and economic performance

In the medium to long term, innovation is the main driving force of economic growth in leading economies. Other possible sources of economic growth, such as bringing a larger share of the population into employment, installing more machinery and equipment of a given vintage, or using more of the country’s land, eventually fizzle out because of the law of diminishing returns: the additional output that can be generated by employing an additional person, or by deploying an additional machine of a given vintage, will grow smaller and smaller, the more people are already employed, or the more machines are already in use, until eventually the costs of using more human resources or more capital exceed the benefits.

English

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