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Intellectual property forums make $100 billion industry accessible to innovators
By: Developer Shed
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    2004-11-03

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    Intellectual property forums make $100 billion industry accessible to innovators
    by Neil A.

    The intellectual property transfer market is now estimated to be worth over $100 billion. If you have a new idea, an invention, a new art or craft, you may be able to license it or sell it for millions of dollars. Many Fortune 500 companies are now making their intellectual property available for sale or licensing at new online intellectual-property exchanges. These companies are trying to maximize their return on research and development investment and generate a new source of revenue by licensing their unused and underutilized inventions to others.

    A number of online forums, including Minnesota-based NewIdeaTrade.com
    (http://www.newideatrade.com ), California-based Pl-x.com (http://www.pl-x.com ), and Connecticut-based PatentTriage.com (http://www.patenttriage.com ) now link buyers and sellers of intellectual property. The traditional transfer of intellectual property is complicated, costly, and can take up to one year. However, these online forums simplify and speed up the process for transfer of new ideas.

    The Internet currently reaches more than 600 million users around the world. This makes innovatorsí potential for exposure much higher than with traditional forms of media. The worldwide online commerce has reached $2.2 trillion in 2002 and is expected to reach $6.8 trillion by 2005. The innovators today can leverage the massive reach of the Internet and promote their new ideas to the global market without substantial marketing costs.

    Additional information on how to market intellectual property is available at http://www.newideatrade.com.

    Neil Armand
    Intellectual Property Professional
    Global Commerce & Communication, Inc.
    Telephone: 320-253-3139
    URL: http://www.gcchq.com

    DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware.

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