Purpose -The innovation strategies of the European Union and its member states have been well established over time and their implementation is being supported through government funding and legislative policies. This includes the promotion of strategic University-Industry Collaboration (UIC) involving its heterogeneous stakeholder groups. The purpose of this paper is to provide a shareholder analysis in form of defining the UIC activities, UIC shareholders and their interests and power in such collaboration while addressing the major challenges. Methodology -A comprehensive thematic literature review of scientific research, as well as institutionally conducted research (primarily by European Union organisations) has been performed. Findings -The review lays out the interest and power of the individual stakeholders while members of Academia, Industry and Government being the most influential ones. The primary challenges for Academia and Industry remain access to funding, however, also the tackling of contrary mindsets and mission as well as overcoming organisational and cultural differences create serious barriers to a successful cooperation. Practical Implication: Preparing a shareholder analysis in the area of UIC and deriving with a thorough understanding of the shareholders motivation and power of UIC involvement will help prioritizing and managing the stakeholders, as well as help leading a successful cooperation. Originality/value: This study is meaningful in that it serves as a practical overview in considering the interests and challenges in form of a stakeholder analysis of a UIC setting. It may serve as a guide for stakeholders interested in formalizing UICs to understand the weight, importance and motivation of their immediate collaborators, when preparing a formal UIC partnership.
Purpose: Patenting continues being a growing market, yet critics see significant inefficiencies between the cost spent on protecting inventions and their economic returns. The purpose of this paper is to examine the value of patenting from a cost management point of view and lay out in detail all costs related to it. This approach is intended to support inventors in deciding whether patenting is the right solution for them.Methodology: Utilising a quantitative approach, a comprehensive literature review and analysis of scientific research has been undertaken. Together with secondary literature, further economic resources have been reviewed, both on the topic of patenting, as well as cost management, using here specifically the approach of Life Cycle Cost (LCC). Furthermore, interviews with experts have been conducted to verify results.Findings: Sources prove that a significant amount of patents never recover their cost, yet the annual growth of in force patents reach above 5%. Looking at a business case of patenting an invention from an LCC perspective, the cost for the patent application process and the maintenance of the patent are clear and can be incorporated. Strategic patent management leads to the optimisation of costs, cost reductions and consequently to an increased efficiency of a patent.Practical implication: Patenting is not always the most cost effective or profit maximising solution. The review laid out in this paper should serve those considering the financial aspect of protecting their IP rights while providing an insight about what type of costs are involved in patenting and how these can be optimised.Originality/value: This study is meaningful as it details the related costs of patenting, providing a basis for decision making. Costs laid out include those related to the application or filing process, the periodic financial maintenance, as well as the management and administration of handling these processes and partnerships. Costs related to R&D of the invention, opportunity costs and possible risks are further defined, providing a holistic view of the costs of patenting.
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