March Of Innovation - Spring 2014

March Of Innovation - Spring 2014 - Business Law and...

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Business, Law, and Innovation March of Innovation Lecture 1 Spring 2014 Professor Adam Dell The University of Texas School of Law
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2 - Innovation is ever present in our economy. - Supportive ecosystem , culture of risk & fair incentives. - Cheaper tools of innovation in the hands of more people than ever. - Results of innovation are impressive. - A lot more to come Big Themes:
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3 Science Doesn’t Sleep Engineers / Scientists are on an unending march to make things faster, smaller, cheaper, cleaner, simpler. Market conditions do not alter this paradigm. May accelerate investment / risk capital in a new market (alternative energies, green technologies) but they do not dictate it’s natural progress. Engineers (with pocket protectors) had been working on the plumbing of the Internet long before you ever heard of Google and they’ll be working on improving it long after you take Google for granted. Alternative energies (thin film solar, micro turbines) may get more attention when oil is $150 a barrel, but they don’t go away when it’s $50. Businesses are the most efficient allocators of capital (because they think in terms of ROI ). They are always chasing the next pile of $s.
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