What’s Innovation All About?

It’s a good question: what spurs innovation? Lots has been written about this and there are many answers to that question. I’m not going to delve into all of them here today, but it is fair to say that our country’s standard of living hinges on whether the current innovative U.S. economy performs along similar lines in the coming decades.

A key part of the answer lies in manufacturing because over 60 percent of all private sector R&D stems from the manufacturing sector. New automobiles, new drugs and new processes in manufaturing plants that make the products we use daily less expensive–all of these are the results of that intensive manufacturing R&D.

Intellectual property plays a role too–patents and copyrights ensure that a creator will be paid back for his or her creativity. Recently The Manufacturing Institute released a new report on the link between innovation and IP: Intellectual Property for the Technological Age. It’s recommended reading for anyone interested in the future of manufacturing.

More recently, a California-based group picked up on the report and had a short article on innovation that is worth looking at: Do Intellectual Property Rights Help or Hinder Innovation? The Innovate Forum looks at the role of IP in innovation and finds some surprising differences of opinion. Not everyone links IP to innovation. Click on the link above and read what this short article has to say, including a quote from the institute’s president, Jerry Jasinowski.