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Create Competitive Advantage with Innovation (Collection) by Luke Williams, Dwayne Spradlin, Alpheus Bingham, Inder Sidhu, Jeffrey Wager, Donald deBethizy, Michael Lord

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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."Jay Walker

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 ...

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