In terms of currency, the value of IP has appreciated consistently in recent years. Revenues earnt from leasing IP have increased almost 700% between 2012 to 2018 with an expectancy to continue its rise in the decade ahead. Many of the world’s most valuable businesses have sizeable IP portfolios and many of the market challengers or disruptors are trying to bring new ideas to the market that require legal protection. COVID-19 has amplified some of these trends, with businesses racing to open up digital presence and still trying to adjust to the full consequences of remote working.
According to some studies, only about half of corporate leaders understand the value and importance of IP and are actively involved in strategic planning related to IP. This means that IP decisions are often delegated to lower level legal staff who understand IP but do not necessarily understand broader strategic implications.