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Innovation and patents as a business success factor

Author

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  • Youseline Garavito Hernández
  • Javier Francisco Rueda Galvis

Abstract

Purpose - The purpose of this paper is to expose the impact of innovation and patent registration, as a strategy that contributes to business success in the current competitive and globalized market conditions. Design/methodology/approach - This paper presents a study on the innovation and contribution of the patent registry in the growth of economic sales of 1,746 companies in the Colombian manufacturing sector, whose applied methodology was a statistical correlation analysis and a binary logistic regression. Findings - The results reveal a positive relationship among incremental product innovations with the achievement of sales success, although it is evident that patent registration negatively influences business success as a factor in innovation. Originality/value - This study allows organizations to understand the importance of developing innovation processes and patent registration as a competitive factor that drives sales growth and success.

Suggested Citation

  • Youseline Garavito Hernández & Javier Francisco Rueda Galvis, 2021. "Innovation and patents as a business success factor," Journal of Economics, Finance and Administrative Science, Emerald Group Publishing Limited, vol. 26(51), pages 143-159, May.
    • Handle: RePEc:eme:jefasp:jefas-09-2019-0218
    DOI: 10.1108/JEFAS-09-2019-0218
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    Cited by:

    1. Jiawen Bai & Tianyu Bai & Chengyun Zhang, 2024. "Digitalization, new business Startups, information and Communication Technologies and product innovation: Evidence From China in the lens of sustainability," Evaluation Review, , vol. 48(1), pages 90-118, February.

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