Introduction

The creation and usage of intellectual property (IP) is central to a wide variety of firms. Firms engaged in new technologies or other intangible assets often find it difficult to reap the rewards of their efforts, not least because of competitors imitating or copying their products. IP is a useful tool for avoiding these infringements, for protecting ideas, for investments and for the future of the firm. However, IP is not only useful for gaining or retaining market share. It may be used as a directly tradable asset or as part of the firm’s strategy to increase competitiveness or positioning in a variety of markets. An IP strategy is a crucial element in the overall strategy of the firm, which addresses marketing, production and sales. The number of IP registrations is increasing globally. IP is hence increasingly relevant to a firm’s ability to operate efficiently and satisfactorily. This chapter argues for the relevance of working with IP as part of the firm’s strategy. The objective and outline of the book is presented in the closing section.