Entrepreneurship, Government Support and Regulatory Improvement in the Service Industry: Focusing on the Intellectual Property Service

In order to solve problems such as stagnant real added value, stagnant service exports, and declining productivity in the service industry, it is becoming important to pursue new opportunities and create value through innovative thinking and action. In addition, considering the characteristics of the service industry, such as heterogeneity between service industry sectors, entry barriers, and regulations, the government needs to play a more active role by lowering barriers to entry into the service market by improving regulations so that service innovation can lead to new business opportunities and value creation. The purpose of this study is to analyze the entrepreneurship practice process of service companies, focusing on the intellectual property service industry, which is closely related to corporate activities, and to examine the government’s role such as policy support, regulatory special provisions, and regulation improvement. To this end, this study analyzes the case of Wisdomain, a company specializing in intellectual property information search and analysis, entering the financial service market and technology credit bureau service market. Wisdomain utilized its accumulated capabilities and resources in the intellectual property information service sector to seize the opportunity of patent evaluation service and technology credit bureau service, and implemented the opportunity through innovative thinking and action. As a result, it was able to create differentiated value in the new service market. Wisdomain’s entrepreneurship practice process and achievements have significant implications for service companies seeking to find new business opportunities and create value through service innovation. In particular, the case of Wisdomain is significant in that it shows that the role of the government through policy support, regulatory special provisions, and institutional improvement in the service market acts as an important factor in the practice of entrepreneurship in service companies.