Intellectual Property as a Facilitator of Interactions in an Innovation Ecosystem

The success of science and technology parks ("STPs") and areas of innovation ("AOIs") depends upon interactions among resident companies and various stakeholders in the innovation ecosystem. Intellectual property ("IP") rights are often overlooked as a means for stimulating such interactions. After identifying the relevant stakeholders, this paper proceeds with discussing the important role of IP rights in facilitating interactions in innovative ecosystems, in particular interactions with (1) sources of financing, (2) research institutions and business entities, and (3) the local community in the context of job creation. The paper proceeds with specific recommendations of services that STPs and AOIs can provide to enhance these interactions. Such services can be provided by IP manager specialists or, when budgets and levels of activity permit, more robust services could be provided by a full‐service IP Centre.