The World’s Richest Man Doesn’t Own Tangible Assets

October 26, 20140 Comments

ipwealthcreationFor the first time in human history, the world’s richest man doesn’t own any mines, mills, refineries, lumber yards, or factories. Yet he’s worth tens of billions of dollars.

How did he get so rich? The answer is that great wealth no longer depends primarily on control of physical assets. We are in the midst of a new industrial revolution. If you have not been paying attention, you missed the signs.

A knowledge revolution is taking place. During the turbulent transition periods between one economy and the next, opportunities to create new empires exist.

Henry Ford created his empire during the “shift” to the industrial revolution with a radical new form of transportation. Today’s “IP entrepreneurs” create wealth by commercializing new knowledge and intellectual property.

Virtually every business and industry around the world either uses or produces IP. It’s the primary asset of every business that created new wealth over the last ten years. Companies such as Microsoft, Google and Facebook are just a few of the many IP centric companies with huge market capitalization, but no physical assets.

Wealth creation is becoming unbound by physical boundaries. The maturing of commercial infrastructures (i.e. the legal and financial systems that recognize IP rights) in countries around the world is creating a global IP market place.

The worldwide economy is transforming into an “intellectualized economy”, where wealth is created from intellectual assets (IP) and the know-how to covert them into commercial products, services and technologies. It’s a creative process that is limited only by your imagination and willingness to collaborate with others to discover what you can do with it.

Licensing4Profits is offering a free video e-course, The Licensing Mindset: How to Think Like an IP Entrepreneur. This e-course will open your eyes on why the most successful businesses are using an IP licensing model. You’ll hear how Mrs. Fields, Bill Gates, Dale Carnegie, Google, and others transformed intellect property into business fortunes. You’ll find out about new ways to transform your intellectual property into money-making products and services, and why every IP owner commercializing their IP helps others to do the same.

Click this link to sign up for this e-course.

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About the Author ()

Rand is President / CEO of Licensing Consulting Group, an intellectual property management and licensing company specializing in assisting clients in IP Management, Strategic Consulting, Acquisition of Licensing Rights, and Property Representation. Rand has licensed some of the biggest Hollywood blockbusters, including “Batman” and the “Mighty Morphin Power Rangers”, both of which generated billions of dollars in worldwide merchandise sales. He has lead various international licensing programs as both licensee and licensor, and through consulting projects focused on licensing strategy, brand development, sponsorship sales and property representation.

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