Since the time Intellectual Property has been in the global focus, there have been many speculations and constant discussions on the monetary value attached to IP related works. It is a great piece of news that this year WIPO witnessed a boom in the global royalty and business licensing fee which estimates to about $180 billion a year, a whopping 60 fold increase from $2.8 billion a year in 1970.
While France, Germany, Japan, Britain and the United States have been the major contributors for the global R&D and patent applications filed with the WIPO but China seems to be a fair player emerging in the global market with a share of 12.8 percent R&D. Thus it is obvious that the Innovation curve has shifted to China and we will be expecting more global innovation and research from them.
The current data reveals one prominent factor. The importance of global technology and knowledge based IP at its best. Thereby, the monetization associated with Intellectual Property is reaping great benefits and will continue to do so in future as well. So readers keep a track !
(Image by Steven Goodwin)
