The intangible capitalist economy, that is intellectual capitalism, continues evolving, driven by technological innovations and various forms of entrepreneurship. The creation of intellectual capital and intellectual properties lies at its heart. This eagerly anticipated book analyzes the many complex links between R&D, patents, innovations, entrepreneurship, growth and value creation in this process. Based on an extensive array of national empirical and policy studies, Ove Granstrand explores a comprehensive range of innovation and intellectual property (IP) issues that pertain not only to Europe but to the entire world. These issues include the role of patents and licensing in the governance of technology and innovation, and the many uses and abuses of patents. The text also details new IP phenomena in an increasingly patent-intensive world with patent-rich multinationals and patent-savvy new entrants from Asia. In a world facing challenges that call for innovative responses, this book contains a set of valuable policy recommendations for strengthening innovativeness for economic growth and ultimately for social value creation. This timely book will be a valuable resource for economics, law and management scholars wishing to gain a thorough understanding of the topic. Practitioners and policy-makers will also greatly benefit from reading this volume, following up on the author's widely acclaimed book published in 1999 The Economics and Management of Intellectual Property: Towards Intellectual Capitalism.