Strategic patents lead to market dominance and hinder competitors' innovation.
The article explores how firms use patents to gain market power and increase profits, affecting their competitors negatively. Strategic patents help firms control market share and profits, but don't necessarily lead to technological advancements. Competitors may struggle to keep up with the changes in the market caused by strategic patents. Additionally, the research shows that a firm's innovative activities can impact its suppliers and customers, revealing insights into the effectiveness of the firm's innovation and the overall market structure.