strategy·Published 2025-12
Frequency of 'Innovation' in Corporate Mission Statements and Annual Patent Filings: A Negative Relationship
Principal investigator: Dr. Percival Ashcombe, Chief Research Officer.
Companies that use the word 'innovation' more frequently in their mission statements file fewer patents per year.
Methodology
One thousand four hundred and two publicly traded companies were identified from a sample frame constructed by the Institute's research division. Current mission statements were retrieved from company websites and annual reports as of January 2025. The frequency of 'innovation,' 'innovative,' and 'innovate' was counted. Patent application counts for the prior calendar year were obtained from the USPTO's public database. Companies in sectors where patent filing is structurally atypical (e.g., hospitality, retail) were retained in the analysis without adjustment on the grounds that their mission statements were particularly instructive.
Funding disclosure: Funded by the Institute's Strategy Research Endowment and a foundation that declines to disclose its investment portfolio.
Instruments cited in this study
Full citation
Ashcombe, P. (2025). Frequency of 'Innovation' in Corporate Mission Statements and Annual Patent Filings: A Negative Relationship. Institute for the Study of Pointless Metrics. r = -0.87, p < 0.001, n = 1,402.