Knowledge markets based on intellectual property rights are on the rise, according to the latest WIPO report (Nov 2011). Evidence suggests that firms trade and license IP rights more frequently. Internationally, royalty and licensing fee revenue increased from $2.8bn in 1970 to $27bn in 1990, and to approximately $180bn in 2009 – outpacing growth in global GDP. New market intermediaries have emerged, such as IP clearing houses and brokerages.
WIPO Report Shows Growing Demand for IP Changes Face of Innovation
Earlier this year, Google’s takeover of Motorola highlighted the role of patents as a barrier to entry, and not just in a “good” way…
Inventive warfare, The Economist, August 2011