First, while there is a broad agreement on the idea that innovators should benefit from intellectual labour, the public nevertheless is interested in maintaining a balance between deserved profits and the taking of immoderate advantages.
But the bigger question is: Will our nation -- and our leadership as scientific and technological innovators -- benefit from this failure?
In addition, our analysis indicates that overall serial innovator firms benefit more from industrial clustering in terms of internationalization than non-serial innovator firms.
Using theoretical insights from the resource-based view and density dependence theory, we demonstrate that both serial and non-serial innovator firms benefit from rising levels of industrial clustering in their efforts to internationalize; however, non-serial innovators experience decreasing returns with increasing levels of clustering.
We explain why a sufficiently high threshold level for awarding the unrestricted license is essential to induce truth-telling, show that the innovator generally benefits from the proposed mechanism, and derive conditions for implementability by a modified second-price auction.
Without them, innovators may not benefit enough from sharing their creations, reducing the incentive to create.
Helping make venture capital available across borders would benefit innovators more than public money for open-ended competitions, he says.
The economic impact of this phenomenon increases if and as adopters in addition to the initial innovators also gain benefits from those user-developed innovations.
In all, the Top 100 Global Innovators demonstrate the benefits of encouraging and actively supporting innovation, and of investing in the protection of intellectual property.
The automobile, the light bulb, the computer, the mobile phone, the Internet, mapping the human genome, artificial intelligence and it goes on and on were invented by U.S. innovators that have benefited the world economy -- an Innovation Economy.
