Today is World Intellectual Property Day – Enjoy the Party

In the past several decades the value of the average business has shifted from being composed of roughly 80% hard assets (building, machines, inventory), often called tangible assets, to now roughly 80% intangible assets (intellectual property)! This is a major shift. Just look at Google’s purchase of YouTube for $1.65 billion. What percentage of the purchase price reflected the value of hard assets (probably just buildings and computers)? I would speculate that it would be less than 10%. 

You can bet that the major companies in the golf industry value intellectual property. If you have any doubt… just check out the following posts (1 , 2 , 3 , 4). With that established, why not celebrate intellectual property?

Each year, WIPO and its Member States celebrate World Intellectual Property Day with activities, events and campaigns. The goal is to increase public understanding of what IP really means, and to demonstrate how the IP system fosters not only music, arts and entertainments, but also all the products and technological innovations that help to shape our world.

WIPO identifies the aims of World IP Day as:

a) to raise awareness of how patents, copyright, trademarks and designs impact on daily life;
b) to increase understanding of how protecting IP rights helps promote creativity and innovation;
c) to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe; and
d) to encourage respect for the IP rights of others.

While I have yet to attend a World Intellectual Property Day party (even within patent attorney circles), perhaps some day it will be a worldwide holiday complete with parades and dancing in the streets…

Dave Dawsey – Celebrating World Intellectual Property Day