Intellectual property in India: The new business currency
“For the first time in history, wealth can be created without having massive amounts of capital. For the first time in history, wealth can be created by the power of one’s mind: thoughts and ideas. It can be developed, monetised and distributed instantly across the globe. Intellectual Property has now become the new currency of business.”
This quote comes from Robert Smith, founder of private equity Firm Vista Equity Partners, and in it Smith has perfectly summed up business in the digital age.
Where capital, property and land were often key ingredients to generating wealth, Smith’s argument is that wealth will be created through the power of ideas and innovation in the future. This recognition presents an opportunity for people who might never have considered an entrepreneurial career, to consider the value of their ideas and reap the rewards of innovation. It is worth noting that the wider point Smith makes is not just relevant to individuals or companies, but entire countries.