Summary: Capturing Value From Innovation
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Introduction into Value Appropriation
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What are the goals of the introduction lecture?
- Definitions of innovation and intellectual property rights
- Imitation - from counterfeit to following a trend
- The effectiveness of formal and informal instruments to prevent imitation & enhance value appropriation
- Value Chain Envy
- Definitions of innovation and intellectual property rights
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What is this course considered as innovation?
A firm that introduces something that is new to the industry -
How is diffusion by competitors called?
Seller diffusion -
What is the role of the innovator on seller diffusion?
- It may be initiated and stimulated by the innovator (dissemination)
- It may be deterred or prevented by the innovator (prevention of imitation)
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What for effects do increasing returns in a network industry have?
Direct & Indirect network effects -
What is the result of direct & indirect network effects
Easier to attain legitimacy & produce next line product, but danger for society of premature lock-in of inferior system standards -
What do intellectual property rights give creators?
Exclusive rights to their creations, thereby providing an incentive for the author or inventor to develop and share the information rather than keep it secret. -
What are non-rival goods?
Goods which can be used or enjoyed by many people simultaneously - the use by one person does not exclude use by another. This is compared to rival goods which may only be used by one person at a time. -
When does an innovator get copyrights?
Creator of an original work of authorship gets exclusive rights to control its distribution for a certain time period, after which the work enters the public domain -
What is a trademark?
A distinctive sign which is used to prevent consumer confusion among products in the marketplace
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