Abstract

Intellectual property (IP) refers to an intellectual creation for which the law assigns a monopoly right to designated owners (Markman, Espina, and Phan, 2004). It manifests in various forms, including copyright, trademarks, patents, industrial designs and trade secrets. IP has been defined in and protected by laws for several centuries; however, only in recent decades has IP become the primary locus of value for many organizations (Al-Aali and Teece, 2013). In business practice, IP is usually integrated into organizations’ overall business models and innovation activities and plays an increasing role in the contemporary competitive world. In the academic literature, an increasing number of studies from management and economics focus on IP as their central topic and research its implications for business strategy, organizational behavior, innovation, competitiveness and economic development.