Saturday, June 01, 2013

Patent Trends among Innovative Firms during 2007-2009 Recession

From the SBA Office of Advocacy:

According to the National Bureau of Economic Research (NBER), the Great Recession commenced in December 2007 and ended in June 2009. This research examines whether observable differences in patent behavior between small and large firms occur during this 2007-2009 period.

According to NBER, recessions are typically indicated by a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.1 Research and development (R&D) plays an important role in economic productivity. The United States spends approximately 3 percent of its GDP on R&D, and labor productivity growth has been linked with high levels of R&D. Further, the United States accounts for more than 50 percent of the world’s patents.

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