Regulating the Frontiers of Science, Technology, Innovation (STI) and Research and Development (R&D)

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Understanding IP, 

 “If HP knew what HP knows, we would be three times as profitable." Lewis Platt Chairman,  Hewlett-Packard 

  • Intellectual property, as defined by Chris Fitzsimmons and Tim Jones in Managing Intellectual Property,  offers a lot of different instruments that can be used to exploit new ideas that an individual or a company has created. Example: IBM uses their IP to generate their annual revenue from licensing TV, like Netflix, for the revenue of their originators.
  • It came out as a result of the Uruguay Round, as businesses untested in developed countries demonstrated a profound prosperity in engaging in business, achieving a consensus in favour of IP protection and thus negotiating the TRIPS agreement.
    • Patents: protection of innovations from being copied or repeated 
    • Copyright: creative output whether words, music or media 
    • Trademarks: -protection of signs that distinguish products and services 
    • Design rights: external appearance of products 
    • Know how—international knowledge 
  • Its important because its a mechanism for protection but for creating value that sits at the forefront of corporate strategy 
  • The World Trade Agreement on Trade Related Aspects of Intellectual  Property Rights (TRIPS Agreement)
  • Multinational Corporations feel that intellectual property assets are secure in developing countries markets, thus increasing FDI innovation, joint ventures, and investment through
  • transfer of technology with will occur Levels of technology transfer will increase as technology transfer and licencing are likely to increase, and this will lead to a transfer of know-how and expertise that will contribute to local economic growth in the following ways: 
    • New 
    • Publications of patents 
    • Existence of patent protection as developing countries may need to engage in Licences from FDI
    • Improvement of IP protection for incentives for business to invest new products research, eg Medicine  
    • Domestic innovations will occur 
    • Access to affordable pharmaceutical products 
    • Trade sanctions from the US Countries may be less 

Challenges

  • Effective enforcement and compliance with the TRIPS Agreement, eg adoption of legislation to bring the national, judicial, and legislative to be conformity with the TRIPS agreement.
  • Threats of new corporate actors, NGO, WTO, who speak up for developing countries due to rise of  consumer prices 

Intellectual Property Rights

  • Intellectual property rights (IRs) are important factors in all the technological transfer channels . 

  • In particular, published patent applications and patents are an important source of technological information, which is classified in accordance with detailed technical features and with a fairly uniform structure all over the world. 
  • Beyond this role in disseminating information, whether and to which extent IPRs promote or prevent technology development, access, transfer, and adoption is an empirical question that varies over time and depends on the specific country, sector, and technology context, as well as the context in trading partners in each case 
  • Commercialisation or licensing of technologies by foreign investors may hinge on whether IPRs are effectively protected, but certain kinds of IPR regimes may render other means of technology acquisition more costly, such as applying knowledge revealed in patents, imitation, and reverse engineering.  
  • In general, the number of patents granted in developing countries and LDCs is much smaller than that in developed countries. 
  • Patents tend to play a greater role in appropriation of technology when knowledge is easily codified, such as in pharmaceuticals. 
  • They have less relevance in areas where knowledge is more tacit or when other factors (e.g., learning curves, organisational capabilities, marketing) guarantee appropriability of returns. 
  • What works and which level of IPR protection is most conducive to sustainable development in a given country also depends on the prevailing actions by private and public actors who file, manage, and enforce their IPRs in that country. In countries where the majority of patent applications are filed by foreign applicants, their behaviours may also be relevant 

  • The rise of strategic patenting has led to a complex system of patents, which may support the rights of incumbent firms over new, smaller, innovative firms in developed and developing countries.

  • Against this background, some patent offices have been exploring ways to improve patent quality over quantity.  
  • Your insights into technology transfer and the factors influencing its success highlight several critical aspects of absorptive capacities and economic incentives within innovation ecosystems. 
Let’s break down and expand upon some key points:

Absorptive Capacities

  • Absorptive capacity refers to a firm's ability to recognize the value of new information, assimilate it, and apply it for commercial ends. It is contingent on:
    • Hard Infrastructures: These include physical assets like laboratories, technology parks, and research facilities that facilitate innovation.
    • Soft Infrastructures: Education systems and training programs that build human capital are crucial. A workforce well-versed in existing technologies is better equipped to innovate.
  • The innovation ecosystem plays a pivotal role in shaping firms' absorptive capacities:
Incentives for Adoption: 

  • When innovation systems offer financial or regulatory incentives, firms are more motivated to engage in technology adoption and development.
  • Collaboration:Networks among firms, universities, and research institutions encourage knowledge sharing and boost absorptive capacity


 Economic Incentives

  • Identifying economically relevant knowledge that can lead to commercially viable technology transfer is essential: 
  • Economic Experimentation:Firms need to conduct internal trials and market tests to gauge product viability and competitive advantage.
  • Linkages and Regulations:Strong backward and forward linkages (supply chain relationships) enhance the flow of knowledge and reduce barriers during the technology transfer process.

Challenges of Technology Transfer

  • Financing Issues:Access to finance is a persistent hurdle. Public or private funding mechanisms must effectively support the necessary adjustments to new technologies.
  • Regulatory Challenges: Regulatory frameworks should adapt to facilitate faster and more efficient technology adoption, including simplifying processes for securing approvals for new technologies.


Importance of Public Agencies

Public agencies play a crucial role in ensuring the alignment of technology supply with demand:

  • Facilitating Matches:They help bridge the gap between providers of technology (such as research institutions) and potential adopters (firms).
  • Financing Innovation:Developing innovative financing solutions that cover costs associated with adopting new technologies is fundamental, especially in developing regions.

Addressing these elements can significantly enhance technology transfer success, particularly in contexts striving to meet the Sustainable Development Goals (SDGs). 

By improving absorptive capacities and creating conducive innovation ecosystems, firms can better leverage new technologies to drive economic growth and social progress.



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