Abstract
Purpose: The study seeks to understand the relationship between two critical success factors for the commercial success of patented innovation: the invention's market orientation and diffusion. The study also assesses the moderating effect of patent ownership in the relationship between the predictors' market orientation (MO) and diffusion (DF) with patent commercialisation success. The observation of the relationship is vital as a high percentage of registered patents in Sri Lanka are individually owned and could be a factor for poor commercial success. Methodology: The empirical study utilises a national sample of patented inventions by Sri Lankan nationals and is cross-sectional. The study used a sample of 220 patent holders from the Sri Lanka National Intellectual Property Office (NIPO) and the Patent Cooperative Treaty (PCT) databases to test the hypotheses. The study selected patents registered between 2010 and 2014. The analysis uses SPSS version 21.
Highlights
Innovation is noted to have a snowballing effect that generates knowledge that when it gets diffused it (DF) with patent commercialisation success
The study reveals that both market orientation and diffusion have a significant positive impact on the success of patent commercialisation
The results indicate that patent ownership moderates the relationship of both market orientation and diffusion on commercial success
Summary
The empirical study utilises a national sample of budgets bring forth limited innovations with the more patented inventions by Sri Lankan nationals and is cross- radical innovations that carry higher commercial sectional. The study used a sample of 220 patent holders from potential being patented and yet, struggle to gain the Sri Lanka National Intellectual Property Office (NIPO) and the Patent Cooperative Treaty (PCT) databases to test the hypotheses. The study objective was to empirically validate the research hypothesis to ascertain if there was a relationship between market orientation and commercial success of the patented invention and if patent ownership moderated this relationship. The study objectives and hypothesis is addressed through a quantitative cross-sectional study based on a national framework of patents held by Sri Lankan nationals registered through the National Intellectual property Office of Sri Lanka or registered through the Patent Cooperative Treaty (PCT).
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