A study of Intellectual property rights & corporate law: A complimentary each other

Abstract

When it comes to today's information-based global competition, businesses of all sizes, both big and little, are looking for ways to tap into external knowledge and resources. Knowledge has become a critical resource for innovation and competitiveness in the global network age, say academics and practitioners alike. For knowledge generation, trust, social capital, and intellectual property management have become more important. The topic of trust and intellectual property is seldom explored at the same time. In asymmetric R&D cooperation, the importance of trust and contracts is discussed in this work. Prior to delving into a case study involving a small company's partnership with a major, worldwide machinery and equipment provider, we conduct an overview of the most recent research on these roles in interfirm cooperation. Research and development collaborations need an in-depth knowledge of contracts and trust relations. Successful cooperation can't be guaranteed by contracts, but contracts may be used to foster mutual understanding and learning, as well as trust. On the topic of asymmetric R&D collaborations, we provide a few suggestions for managers on how to strike a balance between trust and contracting.