Influence of Intellectual Property Laws on Innovation in the Technology Sector in South Korea
DOI:
https://doi.org/10.47604/ijlp.2704Abstract
Purpose: The aim of the study was to analyze influence of intellectual property laws on innovation in the technology Sector in South Korea
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: Intellectual Property Laws have played a crucial role in fostering innovation within South Korea's technology sector. The strategic implementation of patent rights and utility models has been instrumental in the country's rapid technological advancement since the mid-1980s. This legal framework has not only protected but also incentivized the creation of new technologies, propelling South Korea to become a global leader in innovation.
Unique Contribution to Theory, Practice and Policy: Schumpeterian innovation theory, resource-based view (RBV) of the firm & institutional theory may be used to anchor future studies on intellectual property laws on innovation in the technology Sector. Technology firms should adopt proactive strategies to navigate the intellectual property landscape effectively and leverage legal frameworks to foster innovation. Policymakers should prioritize the development of robust intellectual property regimes that balance incentives for innovation with the promotion of competition and access to knowledge.
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