Executive Briefing : The World is Light…..
The World is Light: The Rising Tide of Intellectual Property and the Need for a New Marketplace for Rights
Irwin Gross, General Partner, Worldview Technology Partners
- creative output is more important than people give credit for, single most important factor in growth over the next decade
- but the system is broken and cant handle it
- but there are things we can do
inventions, discoveries, innovations, we give awards and celebrate products of creativity
creative output different to our production – its not tangible
IPR – trademarks, patents etc but at its core but it all boils down to a collection of rights
Over the last 30 years, not just in the USA but globally the weight of GDP hasn’t changed but the intangibles are the growth factor in terms of revenue (not weight)
New model of industry – “The World is light” – more rights than ever for intangibles, exponential curve in number of Patent applications
Additionally the revenue from IPR is also growing exponentially
Uncertainty – no one is sure who created what first really
Frustration – huge court cases
Our minds have gotten ahead of our markets it seems
Some stats about the growth of financial markets in the US
Google book search – both parties agree that for 75% of all books nobody at all knows who owns it.
Additionally the definitions are not too clear so 100s of hrs are wasted in arguing over a definition
Patent office work is hard, someone has to do it even if no one wants to do it, so don’t make fun!
Having said all that it’s not all bad news….
iTunes + YouTune – providing an option at least
There are some fundamental open questions – what’s next – how do we fix the trading of the new intangible assets?
- Clear policy choices