“…The majority of those studies appear to have identified a positive relationship between a firm's investment in intellectual property and its business performance, and its financial performance in particular. Representative examples include: Anuar, et al (2012), wide variety of manufacturing industries in Malaysia; Bollen, et al (2005), pharmaceuticals industry in Germany; Bosworth and Rogers (2001), wide variety of large, publicly traded firms in Australia; Cohen and Kaimenakis (2007), service-sector firms in Greece; Graham and Sichelman (2008), literature survey and wide variety of technology start-up firms in the United States; Greenhalgh and Longland (2005), Greenhalgh andRogers (2006 &2007), wide variety of manufacturing firms in the United Kingdom; Hanel (2008), manufacturing firms from many industries in Canada; Hsu and Ziedonis (2013), semiconductor firms in the United States; Juma and McGee (2006), technology firms from eleven different industries in the United States; Lichtenthaler (2009), European-wide study, many industries; Namvar, et al (2010), electronics and computing firms in Iran; Pandit,, et al (2011), multi-national study, broad variety of technology-intensive industries and sectors; Roy (2013), information technology firms in India; and, Suh and Hwang (2010), computer software firms in South Korea.…”