The Value of Knowledge

Knowledge generated through research is the key currency of innovation, but does it have a definable value and if so in what way and can such value be maximised? This chapter moves from a consideration of the research process in earlier chapters to focussing on the value and impact in terms of the research outputs—particularly those that are most relevant to innovation. A comparison is made between the value of conventional research published in scientific journals and the added value and impact achieved through publication as patents or other intellectual property—and why it really matters!