Monetization Of Intellectual Property Rights Essay
Intellectual Property Rights (“IPRs”) have played a significant part in the world’s economy map. It accounts for “almost 39% of total economic activity (GDP) in the EU” and “26% of all jobs in the EU – around 56 million direct jobs. With the addition of 20 million indirect jobs, one in three of all EU jobs – 35% of all jobs – rely on IPR intensive industries” . The main subject of IPR, Intellectual Property (“IP”) asset is normally defined as the product of the mind, consisting of “inventions, literary and artistic works, and symbols, names, images, and designs used in commerce” . To maximize the use of this kind of assets, owners always fully focus on recognizing and exploiting them. Commonly IPRs can be exploited directly or indirectly. In case of direct exploitation, the owners directly utilize IPRs into their own products or service. Although direct manner provides the possibility to fully control the exploitation process, it is at the same time a costly and high risky method. The indirect method is to monetarize IPRs by way of assigning, licensing and raising finance. This way might be more common and less risky. This essay wills disscuss on the value of IPRs in the market and the key methodologices to monetizing them.
1. Monetarization of IPRs
1.1. Overview on exploiting different types of IPRs
There are mainly four types of IPRs: patents, trade marks, designs and copyrights. In which, “patent to protect new inventions;…