Venture capital and intellectual property rights effects on innovation in different socio-economic environments: A systematic review and exploration of various contradictive studies

Abstract

Academic literature has well discussed the effects of venture capital investment, intellectual property rights and other socio-economic parameters on business innovation. While many scholars emphasise these positive effects, others argue that there is no strong association between VC, IPR and business innovation. Therefore, these scholars do not appraise the efforts of regulators and policymakers who are trying to establish stronger intellectual property protection regime for promoting innovation and patenting. This study systematically reviews and maps the literature and explores the effects of VC investment and IPR on innovation on a detailed level worldwide, considering other socio-economic parameters. We discuss the level of effects and the contrary perspectives as well. This review provides a configurative framework from the current research streams which is useful for researchers, regulators, policymakers and entrepreneurs. Copyright 2018 Inderscience Enterprises Ltd.