Abstract
This study investigates the role of formal and informal appropriability mechanisms to appropriate revenues from innovation in several sectors. This relationship depends on factors such as sector, type of product or service, firm’s characteristics, etc. The set of appropriability mechanisms used by a firm depends on their availability and on the firm’s appropriability strategy. An empirical test using a sample of 2,122 Portuguese SMEs from four different sectors of the 2012 Community Innovation Survey indicated that for manufacturing; water supply, sewerage, waste management and remediation activities; and wholesale and retail trade, repair of motor vehicles and motorcycles; informal appropriability mechanisms, such as lead-time and complexity, are more effective for converting product innovation into financial performance in the short term. On its turn, for extractive sectors (Mining and Quarrying), formal mechanisms (e.g., patents) are better to protect product innovation and informal mechanisms are more effective to protect process innovation.
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