A Study Into The Underutilisation Of Intellectual Property And The Global Response To It: Need For A Solution-Driven Strategy To Reap Benefits From Commercialisation
- IJLLR Journal
- Feb 20
- 1 min read
Radhika Agrawal, PhD Candidate, ICFAI Law School, Hyderabad
ABSTRACT
The commercialization of intellectual property (IP) has become a critical driver of innovation, competitiveness, and economic diversification in today’s global economy. Despite rising IP filings worldwide—3.46 million patent applications in 2022, with India recording a remarkable 25.2% growth—many nations still face challenges in effectively transforming IP into marketable assets. This study examines the foundations of IP protection, pathways of technology and knowledge transfer, and the role of academic institutions and public research organizations in fostering innovation ecosystems. It outlines the IP commercialization journey from ideation and protection to licensing, partnerships, and scaling, while highlighting the “valley of death” financing gap and strategies to overcome it. A three- dimensional framework—legal, economic, and strategic—is proposed to strengthen global commercialization, supported by international treaties and mechanisms such as TRIPS and FRAND licensing. Comparative insights from countries including the United States, Japan, the UK, India, and Saudi Arabia reveal diverse approaches and best practices. Ultimately, the paper argues for harmonized policies, cross-border collaboration, and capacity building to unlock the full potential of IP as economic capital, ensuring sustainable growth through resilient innovation ecosystems.
Keywords: Intellectual Property (IP), IP Commercialization, Innovation Ecosystems, Technology and Knowledge Transfer, Academic Institutions and Public Research Organizations (PROs), TRIPS Agreement, FRAND Licensing, valley of death, strategies.
