Research On The Impact Of Intellectual Property Protection On Enterprise Innovation

A sound intellectual property protection system can effectively promote the occurrence of corporate innovation activities and maximize social welfare.This paper regards the third revision of the Patent Law as a quasi-natural experiment,using the data of listed companies from 2006 to 2015 to establish a model to study the implementation effect of this patent law,that is,what kind of intellectual property protection will affect enterprise innovation influences.Considering that this revision is to strengthen the protection of intellectual property rights by improving the scope of protection and quality requirements of patents,this paper finds after theoretical analysis and regression analysis: 1.Increasing the scope and quality requirements of patent protection to promote the innovation of enterprises is greater than the inhibition of improving the quality requirements of patents.Strengthening the protection of intellectual property rights will have a positive effect on enterprise innovation;2.The revision of the patent law has a negative impact on the number of applications for design patents.This is the result of the low standard of design patents granted before the revision,but it does not mean that the innovation incentives for design are therefore reduced,because the innovation output is determined by both quantity and quality.Although the number of designs is reduced,the quality is improved,which is conducive to improving the creativity of our design and the competitiveness of products;3.Intellectual property protection will have different impacts on heterogeneous companies: the higher the level of competition for intellectual property protection industry,innovation will be greater incentives;intellectual property protection for external financing constraints,innovation incentive effect will be greater.In order to further verify the conclusion of this paper,considering the lag of enterprise innovation,this paper takes the R&D investment as the proxy variable of enterprise innovation to conduct the robustness test,and also draws the same conclusion.