The Role of IP in Innovation

"An enterprise would be well positioned to benefit from innovation if it takes into consideration from the initial stage of the new product development process the full range of IP issues. This is true whether the decision to innovate is taken as part and parcel of the overall business strategy, one-off development of a new idea, or as a reaction to developments in the marketplace."

This article from WIPO provides a good overview of the full range of such IP issues as well as the role of IP in new product development, concluding:

"Intellectual property rights can effectively be used to facilitate a successful innovation. Innovative technologies stand a better chance of successfully reaching the marketplace if IP is used strategically. Gauging the importance of IP in innovation ,by merely focusing on patents as input and/or output of innovation, does not do justice to the significant role that can be played by the other tools of IP. A broader approach to the contribution of IP in innovation is therefore needed.

IP also plays an important role in safely navigating the valley of death. It provides access to financing and technical facilities. In addition, IP provide a strong negotiation position when it comes to entering into and maintaining business partnerships."

Via this Information Policy post.