Intellectual property laws in biotechnology: Identifying association between stringent intellectual property laws and entrepreneurship

Abstract

In order to encourage entrepreneurs towards innovation and advancement, it is important to ensure that their intellectual property will be protected. Therefore, intellectual property rights are important for the progression of high-tech companies such as the firms working within the biotechnology industry. In this paper, the researcher has explored the impact of intellectual property rights on entrepreneurial orientation and entrepreneurial skills in biotechnology firms in Malaysia. For this purpose, data has been collected from 270 respondents working within the biotechnology industry of Malaysia. The regression analysis has been applied to the collected data to reveal that intellectual property laws can positively affect and increase the levels of entrepreneurial skills and orientation within biotechnology firms. Therefore, future research and policymakers must focus on the advancement of policies that can support the increased protection of intellectual property and the development of laws and policies that can help in ensuring increased entrepreneurial orientation and innovation within the high-tech industrial sectors of developing countries.