Intellectual property rights business management practices: A survey of the literature

Abstract

The survey focuses on the empirical literature regarding the use and management of intellectual property rights (IPRs). It overviews policy changes regarding intellectual property (IP) protection in the US that led, according to some commentators, to patent friendly era in the US. Then it looks at the IPRs use and strategies in the US, Canada, EU, Japan and Australia and at the protection of IP in specific industry groups. Also reviewed is the relationship between the use of IPRs and the size of firm and its ownership (national vs. multinational). Numerous articles show that management of knowledge assets in general and IPRs in particular are increasingly important. The value of firms in knowledge intensive activities is determined by the value of its IP. IP is used as a financial asset. Firms allocate more human resources to management of IPRs and their training, but there remain important international differences. The recent literature on the impact of IP on the value of the firm, its assessment, valuation, accounting and management of IP are reviewed. The last section of the paper deals with enforcement of IPRs, infringement and dispute resolution. A special attention is given to internet and computer infringement of IP and to insurance as a protection for legal costs.