Journal of Management Information and Decision Sciences (Print ISSN: 1524-7252; Online ISSN: 1532-5806)


Value creation of Thai herbs in the natural and herbal products industry leading to patent protection

Author(s): Yaowarat, K., Pongsiri P., & Silpcharu, T.

The main obstacle affecting the natural and herbal products industry is the infringement of trade patents. This resulted in losing the opportunity to compete with others in this business. Creating additional value to this business is, therefore, a way of leading to patent protection for entrepreneurs. This study was conducted to develop the structural equation modeling of guidelines for creating additional value for Thai herbs to support trade patent. The study comprises a mixed method with three parts. In the first part, data comes from interviews with selected nine specialists. The second part was supported by interviews to create the questionnaire and distributed it to five hundred entrepreneurs and then taken the data analysis using a structural equation model. The third part discusses the focus on developing the model by seven experts. The analysis of the developed model passed the criteria for evaluating consistency and empirical data. All hypotheses proposed in this study were supported; the findings revealed that all factors had a direct effect at a statistically significant level of 0.001. Furthermore, this investigation allows knowing the Brand Identity factor were practically important for creating value of Thai herbs leading to patent protection.

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