Research note: Intellectual property in the services sector: Innovation and technology management implications

Corporate innovation is the subject of several recent articles in the business press and of discussion in academic circles and international conferences. Recently, Business Week reported a study that identified “The World's Most Innovative Companies.” Ocean Tomo, an investment banking firm, developed a list of 300 companies that had major value in their patent portfolios, a surrogate for innovation. Using a technique called “Data Surface Mining” (DSM), these previously published data were further analyzed to characterize the similarities and differences between the Goods and Services Sectors; the results of these analyses are presented here. In addition, the issues of technology management especially relevant to the Services Sector are presented. These issues are of critical importance in light of the fact that the Services Sector represents 80% (Gross Domestic Product and/or employment) of the United States economy and is of increasing importance in the global economy. It is also important to note that technology management in the Services Sector has not been given proportionate attention in the academic literature.