Patenting in family firms

This paper analyses the patenting activities of family businesses compared to non-family ones. First, the focus is on the number of granted patents. Family long-term orientation, care for wealth preservation and risk aversion, may affect innovation processes. Hence, the main question is whether family businesses patent more or less than non-family firms. Second, innovative family companies are examined. This paper conceptualises possible consequences of family involvement also on the selection of inventors and on the accurateness and significance of patent applications. Using a sample of 234 Italian businesses, the article examines how the family influences the patenting behaviours. Empirical results show that family firms patent less than non-family ones and that the inventors' group composition tends to be smaller and conditioned by the presence of family members. These findings support the claim of a pervasive involvement of the family in determining the innovation strategy of the firm