Patent licensing in the life sciences industry
It is not always easy to gain ownership of valuable IP assets through one’s own inventiveness. Instead, one way of remaining profitable and competitive is by licensing IP assets, explains Vidisha Garg.
Ownership of intangible intellectual property does not in itself constitute wealth; rather, such property is a tool for the generation of wealth. It confers on its owner the right to exclude other parties from making, using and selling it, thereby giving the owner a monopoly in the market. Increasingly, businesses are seeking to enter into licensing agreements with rights owners in order to acquire intangible assets and enjoy exclusivity in the market.
This chapter was published in Intellectual Asset Management Magazine July-August 2011.