Investment in Intangible Assets (IA) is becoming increasingly important in the modern economy.
Intellectual Property (IP) is a broad categorical description for the set of intangible assets owned and
legally protected by a company or individual from outside use or implementation without consent. The
hidden and future value of the intellectual property has gained its grounds as an influential intangible asset in developed economies. IP assets have significantly contributed to enterprise values and it is interesting to study how developed economies have utilized and benefited from these assets.