Navigating Global Innovation Frontiers: Interplay of Intellectual Property Management, Open Innovation, and Constraints on Market Adaptability

Vimala Venugopal Muthuswamy

Dr., Associate professor, School of Business, Department of Management, King Faisal University. Saudi Arabia

Suresh Esakki

Dr., Senior Lecturer, College of Economics and Business Administration, University of Technology and Applied Sciences-Salalah, Thumrait road, Salalah, Sultanate of Oman.P.O. Box 608, Postal Code-211

Abstract:

This study investigates the multifaceted interplay among market adaptability through open innovation, intellectual property management practices, constraints, and their collective impact on innovation efficacy. The research aims to investigate complex relationships, by exploring mediating and moderating roles while incorporating contextual elements to offer a comprehensive understanding of innovation dynamics in this distinctive setting. Data from 261 respondents, including legal/intellectual property professionals, consultants/advisors, entrepreneurs, and business managers in Saudi Arabia, were analyzed using STATA software. Measures included seven items to gauge innovation efficacy, four items for intellectual property management practices, five items for open innovation adoption, an eight-item scale for market adaptability through open innovation, and a three-item scale for open innovation constraints. The study unveils significant direct paths between market adaptability through open innovation, intellectual property management practices, and innovation efficacy. Moreover, mediating effects of market adaptability through open innovation between open innovation adoption, intellectual property management and innovation efficacy are observed. Notably, open innovation constraints moderate the relationships between open innovation adoption, intellectual property management, and innovation efficacy within the Saudi Arabian business landscape. This research offers actionable insights for businesses, emphasizing the need to embrace adaptive market strategies rooted in open innovation principles while effectively managing intellectual assets and addressing constraints to foster innovation excellence in Saudi Arabia. It contributes by exploring the interrelationships and mediating/moderating roles of key factors, addressing a significant gap in understanding innovation dynamics in this region.

Keyword:

Innovation efficacy in global markets, Intellectual property management practices, Open innovation adoption, Market adaptability through open innovation, Open innovation constraints.