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Innovation is widely held to be a central concern of economic policy and a key element in the transformation of the economy. This book, first published in 1993, illustrates the connections between innovation, policy and law and shows the ways in which the law can work as a key instrument of innovation policy. A cross-disciplinary study, it considers the ways in which the law has accommodated innovation, and the ways in which a legal framework for facilitating and managing new technologies has developed. As well as canvassing broad theoretical issues, the book presents a number of case studies. These include: intellectual property: patents and living organisms: copyright and computer software: competition and trade: competition law and foreign investment review: and government sponsorship and entrepreneurship: direct grants and tax concessions: telecommunications licensing. Innovation, Policy and Law examines issues in public and industrial policy from the viewpoint of legal studies. The book will increase understanding of the ways in which legal processes can promote innovation and assist in capturing the benefits that innovation brings.