Organisations that ignore that in favour of recombining what's known will miss out on the greatest potential breakthroughs. Previous research has measured innovation by looking at how frequently a patent is cited in subsequent patent registrations.
Read more from our special coverage on "VANTAGE POINT"
That measures the idea's economic usefulness, but not how truly new the idea is, say the current study's researchers - Sarah Kaplan, a Rotman professor of strategic management, and Keyvan Vakili, an assistant professor at the London Business School.
Besides finding that patents exhibiting true novelty were associated with a greater depth of subject knowledge, the researchers found that it was rare for a patent to feature both novelty and economic usefulness. Only one per cent of all patents in their sample hit the mark on both scores.
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