Innovation and patents as a business success factor

• Autores: Garavito Hernández, Youseline, Rueda Galvis, Javier Francisco
• Formato: artículo
• Fecha de Publicación: 2021
• Institución: Universidad ESAN
• Repositorio: ESAN-Institucional
• Lenguaje: inglés
• OAI Identifier: oai:repositorio.esan.edu.pe:20.500.12640/2806
• Enlace del recurso: https://revistas.esan.edu.pe/index.php/jefas/article/view/61; https://hdl.handle.net/20.500.12640/2806; https://doi.org/10.1108/JEFAS-09-2019-0218
• Nivel de acceso: acceso abierto
• Materia: Innovation; Business success; Patent registration; Sales growth; Innovación; Éxito empresarial; Registro de patentes; Crecimiento de las ventas; https://purl.org/pe-repo/ocde/ford#5.02.04

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.