Intellectual Property Commercialization Strategies in Developing Country Contexts
Despite the closing gap in patent ownership in technologically sophisticated developing countries, a significant gap in patent commercialization remains. The same economies that are becoming global leaders in terms of the size of their patent portfolios suffer from a lack of corresponding increase in their monetary returns from innovation. While traditional bilateral licensing remains an important mechanism to monetize patents, there are a number of other mechanisms available to extract value from patents. These include patent securitization, patent exchange platforms, public-private technology transfer initiatives, and public support in patent litigation procedures. With reference to multiple case studies this paper outlines these mechanisms and discusses the ways in which patent commercialization can be improved in the developing world. Significantly, patent commercialization can be stimulated using both market mechanisms and carefully structured government support. It is this combination of a positive institutional environment for patent commercialization and an awareness of the market mechanisms available to innovators that will promote stronger technology markets and generate more financial returns from patents in the developing world.