Business Models for Entrepreneurs: Commercializing, Leveraging, and Monetizing Intellectual Property Rights in India and ASEAN Countries

Abstract

Intellectual Property Rights (IPR), as a critical resource of any organization, has acquired mainstream management discussion space over the past several decades. The management focus has shifted from the traditional approach of generating and securing IPRs to the modern approach of commercializing, leveraging and monetizing of such IPRs. This shift has led to new a research focus of identifying strategies for commercializing, leveraging, and monetizing IPR. The unique nature of IPR coupled with interest in entrepreneurship activities has led to an interest toward the study of business models for commercializing, leveraging, and monetizing IPR. Despite paucity of research on this topic, this chapter aims to create base research direction in this area by creating a map of various business models, which are being practiced in this space across the world. In this exploratory study the author tries to examine different business models available to entrepreneurs and other IP owners for commercializing, leveraging and monetizing IPR along with the strategic intent for adopting them. Each business model would be supplemented with indicative case studies. With IPR and its management taking center stage in the entrepreneurial world in recent times and also given the fact that this decade belongs to the entrepreneurs from the developing countries from Asia, commercializing, leveraging, and monetizing of IPR has become very relevant, particularly for India and for ASEAN countries in general.