TY - JOUR T1 - Patents to Exclude vs. Include: Rethinking the Management of Intellectual Property Rights in a Knowledge-Based Economy JF - Technology Innovation Management Review Y1 - 2011 A1 - Patrick Cohendet A1 - Julien Pénin KW - knowledge-based economy KW - markets for technology KW - Open innovation KW - patents KW - R&D collaboration AB - Traditional patent theory emphasizes the importance of patents for excluding imitators. This view is far too restrictive and is at odds with many empirical and theoretical works. Therefore, we propose an analysis of patent management that considers the properties of knowledge-based economies explicitly. Patents are thus shown to be critical instruments for coordinating innovative activities between firms. They not only exclude potential infringers, but also “include” all the heterogeneous stakeholders of the innovation process. Patents facilitate coordination via two mechanisms: they encourage the emergence of markets for technology (market coordination) and they play an important role in formal and informal inter-firm collaboration (non-market coordination). We also link firms’ patenting strategy with the characteristics of the technological regime of their sector. PB - Talent First Network CY - Ottawa VL - 1 UR - http://timreview.ca/article/502 IS - 3 U1 - HEC Montréal Patrick Cohendet is Professor of Economics at HEC Montréal business school in Canada. He was previously a professor at the University of Strasbourg, France. His research interests include the economics of innovation, technology management, knowledge management, theory of the firm, and the economics of creativity. He is the author or co-author of 15 books and over 60 articles in refereed journals. He has conducted a series of economic studies on innovation and economics of knowledge (measurement of spin-offs, evaluation of the economic benefits of R&D projects, evaluation of technology transfer, etc.). These studies were carried out by his research laboratory BETA of the University of Strasbourg, and MOSAIC at HEC Montreal for different European and North American organisations such as the European Commission, the EU, OECD, Council of Europe, and the Canadian Space Agency. U2 - University of Strasbourg Julien Pénin is Associate Professor at the University of Strasbourg, France, and is a researcher at BETA (Bureau d’Economie Théorique et Appliquée). His research interests include economics and management of patents, open innovation, and open source innovation. He has authored and coauthored over 20 articles in refereed journals. Julien also teaches economics and management of innovation and intellectual property rights at the department of economics and management of the University of Strasbourg. ER -