Recently, Thomson-Reuters published its latest list of the Top 100 Global Innovators honoring the leading organizations and companies most responsible for sizeable, influential patents worldwide. A quick scan of the list indicates that all 100 organizations are located in developed countries. The United States has 47 entries, Japan 25, Western Europe 21, and South Korea 7. From this list, some readers may infer that innovation is largely the realm of engineers and scientists working in developed countries for large companies, assuming that innovators from countries such as India and China don’t matter after all. While we believe that Thomson-Reuters’ methodology is meticulous and logical, we warn against this faulty assumption. Here are three main reasons why. Captive R&D Centers First, m…
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