Sunday, December 03, 2006

Why is Intellectual Property so Expensive ?

IP has the ability to draw huge, disproportionate returns. A piece of music, a book, a video, a formula, any of these can fetch an incredible amount of money if it lands at the right place at the right time. The dot-com boom provided such a time and place, and the Web 2.0 movement is doing it again.

Why ?

One simple reason: it is impossible to price IP! And so it gets priced on word-of-mouth, on momentum, and on herd mentality.

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