Intellectual Property and Business:The Power of Intangible Assets

Innovation and entrepreneurship have generated enormous traction in the recent years. Economies, both developed and developing, want to propel their growth through innovation, and not necessarily of the manufacturing type, but of that of services, or other forms of intangibles. A growing share of Intellectual Property (IP) is generated, delivered and appropriated in an intangible fashion, and yet there seems to be a less than adequate appreciation of how to value, protect and leverage IP. The ignorant companies and individuals are liable to run in multi-million-dollar, multi-year legal battles which often come at the cost of the more productive utilization of their time and efforts. Such an understanding is even more crucial with software, algorithms, and creative business models becoming the new drivers of innovation for startups world over.