Technology-based small firms and the commodification of intellectual property rights

Introduction Intellectual Property (IP) is ‘property’ in the sense that it can be bought, sold, licensed or traded in the same way as any other form of property.1 The value of such assets relative to physical and financial assets has increased considerably over the last 30 years and such rights often comprise the foundation for market dominance, as well as continuing profitability for leading companies. As such, the commercial exploitation of IP rights is pivotal to the development of many enterprises.