Chapter 3. The Virtual Asset-Lite Model: Intellectual Property Licensing
“To the winner of the race will go possible Nobel prizes and huge potential profits.”
|--The Genome Gold Rush|
“Priceline will reinvent the DNA of global business.”
The advent of the New Economy created another twist on innovation. It wasn't just a New Economy; it was now a Knowledge Economy, too. The concepts of innovation and intellectual property (IP) became inextricably intertwined. The most valuable venturing was virtual—building a firm around IP. Patents were the strongest form of currency, not just onerous paperwork. IP licensing was no longer viewed as a mundane legal process. Instead, it was a core corporate strategy and a legitimate, lucrative business ...