The value of intellectual property to firms and society

Economists view intellectual property rights (IPRs) as policy tools for encouraging innovation, but they recognize that they can also inhibit competition. There are many types of IPRs and institutions concerned with their administration. We begin by outlining how these complex and varied rights are supposed to work and how they interact with other characteristics of firms and markets. We then survey the available literature on patents, trade marks, and copyright to assess the value of these IPRs to firms and the costs to firms of acquiring and defending their rights. The paper concludes with suggestions for topics requiring further research to inform public policy better.

Power electronic interfaces for low voltage residential networks

A proposal to increase the existing residential LV grid voltage from 230 V to 300 V has been made in order to increase existing network capacity. A power-electronic AC-AC converter is then used to provide 230 V at each property. The equipment can also provide power-quality improvements to the network and load. Several constraints such as temperature rise at the converter location lead to a converter design requiring very high efficiency. In this paper different AC/AC converter topologies are presented which compares the power quality benefits, size and efficiency of each converter. The design and the control technique of the most suitable topology are verified using simulation and preliminary experimentally results of prototype hardware are also included. © 2013 IEEE.

Firm performance and investment in R&D and intellectual property

This paper analyses the relationship between innovation - proxied by Research and Development (R&D), patent and trade mark activity – and profitability in a panel of Australian firms (1995 to 1998). Special attention is given to assessing the nature of competitive conditions faced by different firms, as the nature of competition is likely to affect the returns to innovation. The hypothesis is that lower levels of competition will imply higher returns to innovation. To allow for a time lag time before any return to innovation, the market value of the firms is used as a proxy for expected future profits. The results give some support for the main hypothesis: the market’s valuation of R&D activity is higher in industries where competition is lower. However, the paper highlights the difficulty in assessing competitive conditions and finds a number of results that challenge the simple hypothesis.