The Monetization of Intellectual Property: The Forces that Drive the Business of Biotechnology

What are the underlying forces that shape the way the biotechnology industry has evolved, the way it operates, the way firms behave, and the way various types of players interact? Without understanding these forces, it is impossible to understand the root of performance problems, or determine what might be done to improve performance. This chapter analyzes the three interrelated forces that drive the business of biotechnology: the spawning of new firms, capital markets, and the market for intellectual property.