Innovation and patents as a business success factor

• Autores: Youseline Garavito Hernández, Javier Francisco Rueda Galvis
• Localización: Journal of Economics, Finance and Administrative Science, ISSN-e 2218-0648, ISSN 2077-1886, Vol. 26, Nº. 51, 2021, págs. 143-159
• Idioma: inglés
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• Resumen

  • 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.