Understanding the commercialization of intellectual property patents in Europe: Highlighting Implications and Regulations for the biotechnology sector

Abstract

Measuring idea generation and commercialization from a quantitative view provide an understanding of biotechnology firms' growth. In this study, the impact of idea generation and commercialization on firm growth has been taken into the measurement framework. Intellectual property rights (IPR) are presumed to play a moderating role between the two linkages. Data was collected from managers, directors, and CEOs in biotechnological firms in Germany. Structural equation modelling was employed to analyse the sample of 312 respondents. The results showed that commercialization and firm growth have a significant association. Idea generation significantly and positively impacts firm growth. Furthermore, IPR significantly moderates the relationship between commercialization and firm growth. The moderating role of IPR between the association of idea generation and firm growth is insignificant. Hence, the empirical measurement provides in-depth evidence of the effectiveness of commercialization and idea generation for firm growth and the commercialization of IPR for firm growth.