The Intangible Advantage: Understanding Intellectual Property In the New Economy

Over the last 40 years, intellectual property has grown from an arcane, narrowly-specialized legal field into a major force in American social and economic life. It comprises an astonishing 45 percent of total U.S. GDP today, and represents 80 percent of the market value of all publicly-traded companies in the U.S. Therefore any young person who fails to grasp at least the basics of intellectual property — and its role in science, business, arts, and the professions — will find him or herself at a distinct disadvantage in the world of tomorrow. Published by The Michelson 20MM Foundation and made possible by the generous support of Alya and Gary K. Michelson, M.D.