Innovation and patents as a business success factor


  • Youseline Garavito Hernández Facultad de Ciencias Administrativas, Económicas y Contables, Universidad de Investigación y Desarrollo, Bucaramanga, Colombia
  • Javier Francisco Rueda Galvis Facultad de Ciencias Administrativas, Economicas y Contables, Universidad de Investigacion y Desarrollo, Bucaramanga, Colombia


Innovation, Business success, Patent registration, Sales growth


Purpose. The purpose of this paper is to expose the impact of innovation and patent registration, as a strategy that contributes to business success in the current competitive and globalized market conditions.

Design/methodology/approach. This paper presents a study on the innovation and contribution of the patent registry in the growth of economic sales of 1,746 companies in the Colombian manufacturing sector, whose applied methodology was a statistical correlation analysis and a binary logistic regression.

Findings. The results reveal a positive relationship among incremental product innovations with the achievement of sales success, although it is evident that patent registration negatively influences business success as a factor in innovation.

Originality/value. This study allows organizations to understand the importance of developing innovation processes and patent registration as a competitive factor that drives sales growth and success.



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How to Cite

Garavito Hernández, Y., & Rueda Galvis, J. F. (2021). Innovation and patents as a business success factor. Journal of Economics, Finance and Administrative Science, 26(51), 143–159. Retrieved from