New relationships between patents and technological innovation: Modeling patent activity as a driver of innovation

Abstract

In a previous publication (Inventions and Innovation: A Case Study in Metals” Key Engineering Materials, Vol. 380, 2008) we were able to distinguish four stages of a long life cycle for specific commodities as well as offer a method for correlating innovation with patent activity. In this study, we extend the number of systems studied. The present study builds on the model proposed earlier for quantifying specific technical innovations (within a group) with the yearly patent counts for that group. Some insights into pattern features that may indicate when materials transition from Stage III (innovation and rapid growth) to stage IV (survival) are offered. If the pattern model is as far reaching as it appears, the results then have important implications on adopting the correct innovation strategies during this period of fundamental social change.