For the first time in human history, the world’s richest man doesn’t own any mines, mills, refineries, lumber yards, or factories. Yet he’s worth tens of billions of dollars.
How did he get so rich? The answer is that great wealth no longer depends primarily on control of physical assets. We are in the midst of a new industrial revolution. If you have not been paying attention, you missed the signs.
A knowledge revolution is taking place. During the turbulent transition periods between one economy and the next, opportunities to create new empires exist.
Henry Ford created his empire during the “shift” to the industrial revolution with a radical new form of transportation. Today’s “IP entrepreneurs” create wealth by commercializing new knowledge and intellectual property.
Virtually every business and industry around the world either uses or produces IP. It’s the primary asset of every business that created new wealth over the last ten years. Companies such as Microsoft, Google and Facebook are just a few of the many IP centric companies with huge market capitalization, but no physical assets.
Wealth creation is becoming unbound by physical boundaries. The maturing of commercial infrastructures (i.e. the legal and financial systems that recognize IP rights) in countries around the world is creating a global IP market place.
The worldwide economy is transforming into an “intellectualized economy”, where wealth is created from intellectual assets (IP) and the know-how to covert them into commercial products, services and technologies. It’s a creative process that is limited only by your imagination and willingness to collaborate with others to discover what you can do with it.
Licensing4Profits is offering a free video e-course, The Licensing Mindset: How to Think Like an IP Entrepreneur. This e-course will open your eyes on why the most successful businesses are using an IP licensing model. You’ll hear how Mrs. Fields, Bill Gates, Dale Carnegie, Google, and others transformed intellect property into business fortunes. You’ll find out about new ways to transform your intellectual property into money-making products and services, and why every IP owner commercializing their IP helps others to do the same.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.