CHAPTER FIVE
SUMMARY OF
MAJOR FINDINGS, CONCLUSION, RECOMMENDATIONS, CONTRIBUTION TO KNOWLEDGE AND
SUGGESTION FOR FUTURE RESEARCH
5.1: Summary of Major Findings.
The
major thrust of the study was to look at the effect of intellectual property
management on performance of some selected manufacturing firms in the south
east Nigeria. The specific objectives
are
1.
To determine the
extent to which protection of intellectual property through trade mark affects
the market share in manufacturing firms in the south east Nigeria.
2.
To ascertain the
degree to which patents induce creativity in manufacturing firms in the same
zone.
3.
To establish the
level to which intellectual property protection fulfills its mission in
manufacturing firms.
4.
To analyze the
various risks involved in intellectual property registration to see if they are
higher than expected benefits.
5.
To find out the
extent to which corporate managers are involved in the management of
intellectual property portfolio in their firms and the implications of their
involvement especially in the south east Nigeria.
After
careful analysis of the data collected from the field, it was discovered that;
1.
Protection of
intellectual property through trade mark has a significant positive effect on
the market share of a firm.
2.
Patents induce
creativity to a very high extent. A lot however depends on the management style
and the type of intellectual property rights used for which firm.
3.
The major risk of
intellectual property is the cost of registration. Others are the risk of legal
practitioners driving the process.
4.
Expected benefits
of intellectual property are higher than the risks involved but due to poor
management, some firms do not extract maximum value from their IP resulting to
loss of benefit.
5.
Intellectual
property fulfills its mission to a large extent when effectively and
efficiently managed and utilized
6.
Corporate managers do not often significantly
get involved in the management of intellectual property portfolio which results
to loss of value.
7.
Most companies do
not have a research and development department.
Other
incidental findings were made during the study. These are unintended discovery
which even though are important and are carefully stated here, yet they are
less significant to the research. They include;
1.
Most companies
hide their IP properties from their staff
2.
Firms in advanced countries are more users of
IPR.
3.
Most industries
especially small and medium scale industries do not border about research and
development department. They operate for years offering products that can be
modified or improved upon in terms of standard or even packaging through
creative talented employees but because of absence of R&D department, the
practice is impeded.
5.2: Conclusion
The
protection of IP is fast becoming an instrument and tool for expansion of trade
and generation of income when adequately exploited. With the new development and
challenges arising from the use of IPR, it has become obvious that developing
countries like Nigeria can benefit from IP system in same way as industrialized
countries. However, Nigeria is yet to develop its technological capabilities
that will enable the country to compete favorably at global market. The
vulnerability of the developing countries, marginalization and corruption lead
to stringent measures in intellectual property protection by overzealous owners
and their dictatorship. This is because most times they are not ready to
transfer intellectual property at affordable prices which then add to the
general cost of registration. This and other factors have been a deterrent to
IP development in Nigeria.
However,
as awareness increases, as IP system is developed and as managerial skills are
improved, Nigeria stands to benefit from the economic advantage. This is
because as IP acquisition increases, performance increases and as management of
IP is effectively and efficiently done, performance of firms also increases. As
long as the relevant IPR is acquired for the right product or process, and
management and control is undertaken by the relevant employees, and applied
strategically, then to a great extent, the expected benefits from registration
will not only be achieved, but will also lead to improvement in innovation,
creation and invention which in turn will lead to increase in the socio
economic standard of the country through improved performance of the various
firms. It is therefore worth venturing into.
Often
times, managers assume that the best way of using IP is to suppress
competition. Others believe that sharing the value of IP is in the best
interest of the firm. Certain factors affect the choice of IP to be used by any
firm. The key factor however that shapes a firm’s propensity to use any of the
tool is the degree of innovation practiced in the firm and/or the
characteristics of the product being offered by the firm. This is indicated in Greenhalg and Rogers
(2007) where they observe that higher trademark activity has some positive
association with performance of service providers but weak result in
manufacturing firms. An improved understanding of different mechanisms and
their possible interaction and overlap would be useful so as to provide the
basis for decision when firms need to use a combination of different mechanism
to protect the same IP.
So
many risks are obviously involved in the use of IPR which tells negatively on
the company’s profit but this is only in the short run because in the long run,
other benefits are derived which include but are not limited to; Productivity,
Profit maximization, Sustainability, Market Share, and Market growth.
Based
on the opinion of the respondents shown in the findings, the study takes the
stand that contrary to the prevailing perception of IP as not impacting much on
the companies, intellectual property does have a significant positive impact on
manufacturing firms performance as long as it is protected by IP right, and
effectively and efficiently managed by the right personnel.
5.3: Recommendations
Following
the hypothetical example given earlier, the study makes the following
recommendations;
1.
Manufacturing
firms should use trademark as a tool to protect their intellectual properties.
2.
Firms should also
adopt the use of patent rights to protect and if possible combine it with other
strategies that may be relevant.
3.
Since IP fulfillits
mission to a large extent in industries especially when it is effectively
managed, it is therefore recommended that industries should adopt the use of IP
at all times as long as the product or process is IP compliant.
4.
IP management and
control should not be left for the lawyers alone because many IP decisions are
of strategic importance and should not be delegated to lawyers who have little
knowledge of strategic formulation and implementation.
5.
Corporate
managers should be involved in decision making procedures regarding their IP
and IPR. Management practitioners also need to develop a balanced and well
founded understanding of the means of IP management. There is need for careful
assessment and planning before and after acquisition.
6.
Early and
continuous interaction between business executives, Managers, Lawyers and Engineers
are critical to identify the best opportunities for developing intellectual
properties.
7.
Since it’s a
novel concept in some firms, awareness should be created to add to the
knowledge of people especially in the south east Nigeria.
8.
Government should
review the IP laws and policies in the country for an improved version. This
willgo in tandem with both international practice and standard and WIPO
standard.
9.
Companies should
establish IP policies and include it in their mission and vision statements and
their core values. This will also enable them to establish IP management system
in order to not only retain IP but also to boost release of knowledge.
10.
Research and
Development department should be an important department for any manufacturing
firm
11.
Manufacturing
firms should identify the challenges in IP policy documentation, enforcement,
administration, and implementation and develop how to tackle problems posed by
those challenges.
12.
Firms should survey the utilized IP management
methods and identify the blockages in the IP management system to lead to an
improved understanding of different mechanisms to protect the same invention.
13.
Organizations should also include it in the
syllabus for institutional trainings
These
recommendations if adopted will go a long way to encourage improved performance
in our industries both in the short and long run.
5.4: Contribution to Knowledge
The study has exposed us to
the fact that a few work has been done on IP management and performance of
firms especially on the developing countries. Again, most work on IP borders on
the legal aspect of it which is mainly infringement and prosecution and not on
management. In UNEC, no study has been done on intellectual property management
and performance of companies in the south east Nigeria.
The research also strongly
supports that IP portfolio is better managed by strategic managers instead of
legal professionals which is contrary to what is being practiced today in our
country.
The study again shows that
advanced countries are more inclined in the use of IP rights than in countries
with emerging economies. The study has contributed to knowledge by attempting
to fill the gap created by all the above.
MODEL PLAN
TO FACILITATE INTELLECTUAL PROPERTY MANAGEMENT FOR IMPROVED PERFORMANCE
Figure 5.1:
Model Plan to Facilitate Intellectual Property Management for
Improved Performance
Developed by the Researcher, December 2014
5.5: Suggestion for Future Studies
·
As was observed
by Zang, (2010) in his study, there are no standard criterions for measuring
IP. Also the issue of assigning a market value to IP and reflecting it in the
financial statement will require significant accounting practice. These should be identified as areas to
further explore.
·
Risk reduction
strategies should be identified and studied further for example, identifying
issues like the characteristics of the IP, the workplace variables that affects
it, and characteristics of the product, process or services provided by the organizations.
·
More empirical
research on the subject should be done in the developing countries to better
understand how it works here in order to develop more appropriate policies
supporting IP practice considering the business environment, and low level of
technical advancement.
·
A comprehensive
comparative evaluation of the strategies available to firms for managing IP
should also be studied more for a better incite.
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QUESTIONAIRE
APPENDIX II
SECTION A: PERSONAL DATA
ON RESPONDENTS
Sex: (a) Male [
] (b) Female [ ]
Marital Status: (a)Married [ ]
(b)Single (c)Widowed [] (d) Divorced [ ]
Age: (a)≤30yrs [ ] (b)>30≤40yrs [ ] (c) >40≤50yrs [ ] (d) >50yrs [ ]
Highest Educational
Qualifications: (a)HND/B.Sc[ ] (b) MBA/
M.Sc/MA [ ] (d) Ph.D [ ]
Professional Qualification if
any.............................
Employer........................................................
Duration worked in the firm in
years. (a) ≤5yrs [ ] (b) >5yrs ≤
10yrs [ ] (c) >10yrs≤20yrs [ ] (d) >20yrs [ ]
Category of management: (a)
Top management [ ] (b)Middle Management
[ ]
SECTION
B: STRUCTURED ORAL INTERVIEW. Please answer YES or NO by indicating in the
box provided.
Does your organisation have a
research and development department?
[ ]
Are you aware of the
intellectual property that has been acquired by your firm? [ ]
If yes, does the firm have any
form of protection for these properties?
[ ]
Do you think Intellectual
Properties should be protected as much as physical properties? [ ]
In your opinion, do you think
these properties are being managed well?
[ ]
SECTION
C: DATA ON THE MANAGEMENT AND PERFORMANCE OF INTELLECTUAL PROPERTY IN
MANUFACTURING FIRMS
Instruction: This
questionnaire attempts to analyse the Intellectual Property Management and
Performance in Manufacturing Companies. It is based on five subscale or
stressors as shown below. It is not a test so there are no right or wrong
answers. Your answers to the question
will be completely confidential. Your candid opinion is therefore required.
Please tick × in the box that
most appropriately describes your opinion. The options are;
SA- Strongly Agree, IA-
Inclined to Agree, N- Neither Agree nor Disagree, ID- Inclined to Disagree, SD-
Strongly Disagree.
APPENDIX III
Objective 1: To determine the extent
to which Effective Protection of Intellectual Property through Trademark
affects the Market share in Manufacturing Firms
RHI
|
SN
|
STATEMENT
|
SA
|
IA
|
N
|
ID
|
SD
|
|
1
|
Trademark,
copyright, and patents to a large extent positively affect the market change
of a firm over time.
|
|
|
|
|
|
|
2
|
The use of brand
signature and brand name increases the
market strength of a company
|
|
|
|
|
|
|
3
|
The performance
track of a firm increases with protection of their intellectual property
|
|
|
|
|
|
|
4
|
Trade mark,
Copyrights and Trade secrets are powerful tools used by firms to fight
against imitation of their products and processes.
|
|
|
|
|
|
|
5
|
The market index
of your firm increases with the acquisition of intellectual property rights
over their intangible assets.
|
|
|
|
|
|
|
6
|
Exclusive rights,
Industrial design and Non-disclosure keeps away competitors thus increasing
market share of your firm
|
|
|
|
|
|
APPENDIX IV
Objective 2: To ascertain the Degree
to which Patents induce Creativity in Manufacturing Firms
RH2
|
SN
|
STATEMENT
|
SA
|
IA
|
N
|
ID
|
SD
|
|
1
|
Enforcement of
patent laws promote technology innovation in manufacturing firms
|
|
|
|
|
|
|
2
|
The use of
patents significantly prevents imitation leading to improved performance
|
|
|
|
|
|
|
3
|
The establishment
of R&D department enhances creation of new products and processes
|
|
|
|
|
|
|
4
|
Acquisition of
intellectual property rights enhances the invention of new products and
processes thus improved performance
|
|
|
|
|
|
APPENDIX V
Objective 3: To establish the
level to which Intellectual Property fulfils its mission in Manufacturing
Firms.
RH3
|
SN
|
STATEMENT
|
SA
|
IA
|
N
|
ID
|
SD
|
|
1
|
The mission of
intellectual property in your company is to impact positively to its success
|
|
|
|
|
|
|
2
|
Having exclusive
rights significantly protects your intangible assets
|
|
|
|
|
|
|
3
|
Profit maximisations,
increased market share and organisational sustainability can be achieved
through the use of intellectual property tools
|
|
|
|
|
|
|
4
|
Trademarks, trade
secrets, and brand signature to a larger extent determines the success of
your manufacturing company
|
|
|
|
|
|
|
5
|
Profit
maximisation can be achieved through copyright and other form of protection
|
|
|
|
|
|
APPENDIX VI
Objective 4: To analyse the
various risks involvedin Intellectual Property Registration to see if they are
higher than Expected Benefits
RH4
|
SN
|
STATEMENT
|
SA
|
IA
|
N
|
ID
|
SD
|
|
1
|
The risks
involved in intellectual property registration is higher than expected
benefits
|
|
|
|
|
|
|
2
|
Creativity,
innovation, and invention are some of the benefits of protecting your
intangible assets
|
|
|
|
|
|
|
3
|
Creativity,
innovation and invention are some of the vital elements for promoting
organisational performance
|
|
|
|
|
|
|
4
|
The cost of
registration of intellectual property rights is recovered by the usage of
these rights
|
|
|
|
|
|
APPENDIX VII
Objective 5: To find out the
extent to which Corporate Managers are involved in the management of
Intellectual Property Portfolio in their Firms and the implications of their
involvement.
RH5
|
SN
|
STATEMENT
|
SA
|
IA
|
N
|
ID
|
SD
|
|
1
|
Corporate managers
rarely get involved in the management of intellectual property portfolio
|
|
|
|
|
|
|
2
|
Often times,
intellectual property portfolio management is left in the hands of legal
practitioners
|
|
|
|
|
|
|
3
|
Strategic
management of intellectual property portfolio is essential in order to
achieve desired result
|
|
|
|
|
|
|
4
|
Creating and
recreating of products and processes is as a result of poor management of
intellectual property portfolio
|
|
|
|
|
|
|
5
|
Aligning business
goals, strategic management and legal requirements extensively contributes
positively to the firm’s performance.
|
|
|
|
|
|
|
6
|
Lack of
management commitment to R&D department negatively affects the firm’s
growth.
|
|
|
|
|
|
APPENDIX VIII
ORAL INTERVIEW SCHEDULE
Are you aware of the
intangible assets in form of intellectual property possessed by your
manufacturing firm?
Do you have any kind of
protection of these properties in terms of legal instruments and/or firms
activities?
What are these instruments and
how are they being managed.
Who are involved in the
management of these properties?
In your opinion, do you think
that intellectual property protection contributes to the improved performance
and general success of your firm? If
yes, then how?
APPENDIX IX
Reliability
of the Research Instrument
To test for reliability of the
instrument, s test re-test method was adopted in which 20 copies of the
questionnaire were distributed to staff of the selected firms. After some days,
the instrument was collected and re-administered for the second time, using the Pearson-Product Moment Correlation, Coefficient of Reliability
which was found to be r = 0.96 showing
that there is consistency in the items
of the survey.
Pearson – Product Moment Correlation Coefficient
Showing the Reliability of Instrument.
|
Organizations
|
First
average response (x)
|
Second
average response (y)
|
Xy
|
X2
|
Y2
|
|
Jacobs
Wine
|
4
|
5
|
20
|
16
|
25
|
|
General
Cotton Mill (GSM)
|
5
|
4
|
20
|
25
|
16
|
|
Ofali
Rural Industry Ltd
|
3
|
4
|
12
|
9
|
16
|
|
Hardis&Dromedas
Ltd
|
3
|
4
|
12
|
9
|
16
|
|
Pittason
industry Nig ltd
|
4
|
3
|
12
|
16
|
9
|
|
Alo
Alumunium Man ltd
|
3
|
5
|
15
|
9
|
25
|
|
Ngo
Bros and Coy ltd
|
3
|
4
|
12
|
9
|
16
|
|
Total
|
25
|
29
|
103
|
93
|
123
|
Source: Researcher’s Field
survey 2014