FROM INTANGIBLE ASSETS TO INTELLECTUAL PROPERTY: DELINEATING THE INTELLECTUAL PROPERTY COMMERCIALIZATION FROM THE LEGAL PERSPECTIVE
FROM INTANGIBLE ASSETS TO INTELLECTUAL PROPERTY: DELINEATING THE INTELLECTUAL PROPERTY COMMERCIALIZATION FROM THE LEGAL PERSPECTIVE

Summary/Abstract: The economic attribute of intangibles in the contemporary world is of inarguable significance. Correspondingly, intellectual property rights present the most value-intense, and the most refined, element of the intangible capital. This attribute is largely owed to the legal recognition to which they are subject, as distinct from the other sorts of information assets that are also of economic value. The said legal recognition intrinsically entails a strong protection and enforcement of the rights as well as a transactional value to the rights. Intellectual property rights thus became the most significant corporate assets and their quiddity has notably evolved into a commercial nature. Meanwhile, on the legal basis, the principal theories regarding the rights over intangibles have been historically pertained to individualist approaches as opposed to the -evolved- commercial nature by which these rights are today identified. In addition, the classification among intellectual capital elements themselves are more subtle than ever in connection to the immense growth of knowledge-based economies. On that note, throughout this study we strived to discuss the significance of intangibles in creating value, and relatedly, the position of intellectual property rights with reference to the legal identity they are backed up with. Secondly, we focused on the nature of said legal identity, more specifically through the concept of property rights in the classical sense; whether intellectual properties are qualified as properties within the conventional legal meaning. Finally, we sought to answer, respectively: why these rights are more mercantile -or commercial in nature- than the tangible assets; and what is the area depicted by the term ‘commercialization’ when it comes to the legal perception of intellectual property commercialization.

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