Intellectual Property Rights, Innovation and Management of Biomedical Companies

Intellectual property rights, innovation and management of biomedical companies (257 - 16433)
Study: Bachelor in Biomedical Engineering
Semester 2/Spring Semester
4th Year Course/Upper Division

Compentences and Skills that will be Acquired and Learning Results:

This course aims at providing the students with concepts and tools for understanding how firms can build sustainable competitive advantages and superior performance from biomedical technologies. Consequently, the students will acquire the following competences:
- They will understand the role of managers and the main functional areas of the firm
- They will understand the causes and origins of competitive advantage and value creation
- They will be able to rigorously analyze the biomedical industry and its main characteristics
- They will understand the importance of innovation and technology for competitive success, and the basic concepts of innovation management, focusing on the role of Intellectual Property Rights (IPR)
- They will understand how IPR law contributes to adequately protect and exploit of innovations in the market

Description of Contents: Course Description

1. Value creation as the ultimate goal of the firm
1.1. The nature of the firm and the role of managers
1.2. The value proposition
1.3. Understanding the role of resources and the sources of cost
1.4.A quantitative approach to value creation

2. From value propositions to business models: the role of strategy
2.1. The role of strategy: creating and sustaining competitive advantage
2.2. The nature and sources of business opportunities: the role of strategic analysis
2.3. Business models: concept, components and applications
2.4. Business models in the biomedical industry

3. Innovation and technology management
3.1. The management of innovation: introduction and main concepts
3.2. Innovation, value and profit: when does innovation pay off?
3.3. Technological standards

4. Intellectual property rights and technology exploitation
4.1. Modes of technology exploitation: how to profit from innovation
4.2. The role Intellectual Property Rights (IPR) in knowledge-based activities
4.3. Principles of IPR law (national, European, international
4.4. Patenting new technologies: requirements and process
4.5. IPRs and the protection of biological technologies

Learning Activities and Methodology:

The students will develop the competences aimed for this course by means of three main learning activities:

Theoretical lectures, which will consist in systematic explanations of the main concepts and analytical frameworks underlying the different topics covered along the course. Students will be given the appropriate bibliographic references in advance, so that they can study and prepare for eatch session.

Practical sessions, during which students will analyze real-life case studies applying the contents previously explained in the theoretical lectures. Students will prepare the case studies and submit their analysis in writing before the session, when they will be discussed under the teacher¿s supervision and guidance. Active participation is expected from the students.

End-of-term Project (teamwork): The students will develop a business plan for a biomedical startup, in which they will apply the course contents to an original business project.

Assessment System:

The competences acquired by the students will be assessed as follows:

End-of-term written exam: 50%
Written assignments (case studies): 20%
Final Project (business plan): 20%
Class participation: 10%

Basic Bibliography:

David Castle. The Role of Intellectual Property Rights in Biotechnology Innovation. Edward Elgar. 2009
Paul Trott. Innovation Management and New Product Development (5th ed. ). Prentice Hall. 2011
Robert M. Grant. Contemporary Strategy Analysis (8th ed.). Wiley. 2013