Irving on Innovation: Patents as Currency in the Intellectual Property Marketplace]

[Dave Farber <dave () farber net>]

-------- Original Message --------
Subject: Irving on Innovation: Patents as Currency in the Intellectual
Property Marketplace
Date: Mon, 20 Feb 2006 12:05:02 -0800
From: AlwaysOn <enewsletters () alwayson-network com>
To: David Farber <dave () farber net>

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Patents as Currency in the Intellectual Property Marketplace
by Irving Wladawsky-Berger

What should be the key characteristics of a properly functioning IP
marketplace?


Hello David,

I like Wikipedia's definition of intellectual property (IP) as being the
product of the mind or the intellect that has commercial value and may
be legally protected in the same way as other forms of property. Former
Federal Reserve Chairman Alan Greenspan observed in a speech last year
that: "In recent decades [...] the fraction of the total output of our
economy that is essentially conceptual rather than physical has been
rising. This trend has, of necessity, shifted the emphasis in asset
valuation from physical property to intellectual property and to the
legal rights inherent in intellectual property." And a recent article in
Business Week pointed out that: "Everyone knows the U.S. is well down
the road to becoming a knowledge economy, one driven by ideas and
innovation." It should thus not come as a surprise that IP in general
and patents in particular are playing such a prominent role in our
increasingly knowledge-based economy as more and more of the innovations
driving the economy are products of the
                                        
What should be the key characteristics of a properly functioning IP
marketplace? That's a subject that is very important to the future of
innovation, and the focus of a new podcast series from IBM. Let me offer
some perspectives on the challenges we face.

Read the full column:
<http://www.alwayson-network.com/comments.php?id=13987_0_11_0_C>

=============================================================

Irving Wladawsky-Berger is vice president of technical strategy and
innovation at IBM.

=============================================================

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