Organizations in the intellectual property (IP) market offer IP rights management services to organizations as well as private individuals such as artists, designers, and authors. Intellectual rights protection allows organizations and individuals alike to innovate freely, without fear of their proprietary ideas being monetized by others. But on the flip side, the intellectual property rights market faces loss of revenues because of the sheer costs associated with obtaining licenses, copyrights and designs - all of which are intellectual property.
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Intellectual property has implications for private and public entities, as both strive to maintain a balanced patent system that can further be used for commercializing a technology/know-how or restricting its widespread use. However, it is now amply evident that intellectual property rights are a powerful tool for securing financial or takeover deals, and during negotiations. The intellectual property market also features law firms that advise their clients on protecting and using their intellectual property in compliance with the regulatory mandates in different regions of the world.
The global intellectual property market will move a step close to maturity when IP laws are followed, information transparency is achieved, and strategic thinking is given importance. Leading economies have already passed laws to encourage this. In the United States, for instance, introduced the America Invents Act in September 2011. The act is aimed at enhancing product quality by collecting third party patent-related information and registering it with the United States Patent and Trademark Office (USPTO).
The report segments the global intellectual property market based on geography and property type. By geography, the market is composed of North America, Asia Pacific, Europe, and Rest of the World. By property type, the market comprises: Patents, trademarks, copyrights, trade dress, copyrights, and trade secrets. While patents offer the inventor the exclusive rights of using their intellectual property, copyrights work on a similar understanding but for a limited time frame. With patents and copyrights becoming an important asset for companies wanting to maintain a lead over their competitors, it is expected that they will spend more on acquiring these rights. The development of patenting funds will also pump in more revenue into the global intellectual property market. The trend of online intellectual property is developing into a solid market in its own right.
Intellectual property market, by type:
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