Changes

**'''Facts or data''' observed in '''reproduceable experiments'''

**'''Theories or relationships between facts''' (usually equations).

[[Cohen Levinthal (1990) - Absorptive Capacity |Cohen and Levinthal (1990)]]:

*'''Absorbative capacity''' is defined as the ability to evaluate and utilize outside knowledge This includes recognizing and assimilating new knowledge and applying it to commercial ends.

[[Gompers Lerner Sharfstein (2003) - Entrepreneurial Spawning |Gompers, P., J. Lerner, and D. Sharfstein (2003)]]:

*'''Fairchild View''': Employees are trained and conditioned to be entrepreneurs by working in a VC backed firm (exposure to networks etc)

*'''Xerox View''': Large firms are incapable of responding to radical changes that upset their business; thus the invention of a disruptive technology leads the inventor to leave

[[Henderson Clark (1990) - Architectural Innovation |Henderson and Clark (1990)]]:

*'''Dominant design''': Technological evolution is characterized by periods of experimentation, followed by the emergence of a dominant design.

*'''Organizational capabilities''' are loosely the skills and problem solving abilities of a firm, including it's communication channels, filters and strategies

[[Lamoreaux Sokoloff (2005) - Decline Of The Independent Inventor |Lamoreaux and Sokoloff (2005)]]:

*'''Innovation''' is defined by Schumpeter as distinct from invention - it is "making new combinations". When entrepreneurs innovate, they take a new idea and make it work. Thus innovation is synonomous with commercialization: embody the idea in a productive enterprise and generate profits. Entrepreneurs innovate and then managers run (once profits to the innovation have been dissapated).

*'''Patents''': Are the grants of exclusive property rights to a new technological idea

[[Mowery Ziedonis (2001) - How Has The Bayh Dole Act Affected Us University Patenting And Licensing |Mowery and Ziedonis, (2001)]]:

*'''Bayh-Dole''' is the Bayl-Dole act of 1980 (see the paper and also )

*'''TTO''' is a Technology Transfer Office

[[Murray Stern (2005) - Do Formal Intellectual Property Rights Hinder The Free Flow Of Scientific Knowledge |Murray and Stern (2005)]]:

*The '''open science institution''' uses rewards for conducting basic research that favor cummulative knowledge production over the long term

*The '''private property regime''' ignores the impact on follow on research, and instead attempts to exclude others in order to appropriate value through commercialization

[[Teece (1986) - Profiting From Technological Innovation |Teece (1986)]]:

*'''Complementary Assets''': The successful commericialization of an innovation requires that the know-how be used in conjunction with other assets or capabilities for production and distribution

*'''Cospecialized assets''' need relational specific investments from one or both side

[[Thursby Fuller Thursby (2007) - Us Faculty Patenting Inside And Outside The University |Thursby, Fuller and Thursby (2007)]]:

*The '''Professor's privilege''' in Europe allowed faculty ownership of their IP - this is referenced in this paper

[[Ziedonis (2004) - Dont Fence Me In |Ziedonis (2004)]]:

*'''Concentrated rights''' are rights held by only one or a small number of holders

*'''Fragmented rights''' are when rights are dispersed

[[Mowery (2009) - Plus Ca Change |Mowery (2009)]]:

*'''Vertical Specialization''' - is the specialization in one component of the vertical supply chain, and outsourcing of this component

*'''IPAs''' (Institutional Patent Agreements) were used by the NIH and other government funders prior to Bayh-Dole.

==Innovation Market Failures==