The Emerging Market for Intellectual Property: Drivers, Restrainers, and Implications

Posted: 22 Jun 2009

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Date Written: July 2009

Abstract

The rise of the knowledge economy has ushered in important changes to the economic landscape. One such change is the emergence of a market for intellectual property (IP), and more specifically a market in patents. New corporate IP strategies are driving the development of this IP market; specialized patent intermediaries, located predominantly in Silicon Valley, are facilitating its growth. Given the relevance of this phenomenon for economic geography, this article seeks to map this emerging market and illustrate its drivers, restrainers and implications. Despite its infancy, the patent market is drawing comparisons to the market for financial derivatives. It has the potential to change the economic landscape in a way that permanently alters corporate and regional competitive dynamics.

Keywords: Intellectual property, patents, innovation, intermediaries, finance, K41, M13, M21, R11, O34

Suggested Citation

Monk, Ashby, The Emerging Market for Intellectual Property: Drivers, Restrainers, and Implications (July 2009). Journal of Economic Geography, Vol. 9, Issue 4, pp. 469-491, 2009, Available at SSRN: https://ssrn.com/abstract=1422429 or http://dx.doi.org/lbp003

Ashby Monk (Contact Author)

Stanford University ( email )

United States

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