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The second day of the Global IC Exchange 2019 in Berlin

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On Tuesday, on March 12, on the second day of the Global IP Exchange, the experts of the IPChain Association discussed the prospects of the intellectual property assets at the business breakfast.

The participants attending the discussion talked whether the market of intellectual property assets had a real potential, or was rather the hype.

 

The discussion was moderated by Anton Pronin, director of the Legal Technologies Center of the Skolkovo Foundation, who invited the participants to discuss the agenda of the business breakfast dubbed “Intellectual property: blue ocean strategy or the common hype?”

Anton Pronin identified two different approaches, suggesting that the audience should split into two camps: of those who believed in the potential of intellectual property as a multi billion dollar market, and of those more skeptical attendees who believe that the hype about this sphere had no grounds. Each standpoint was backed by five individuals, who formulated ten proof-points to support their statements. Therefore, a group of skeptics listed the obstacles to the development of the IP market, whereas a group of proponents highlighted the prospects of the intellectual property sphere and intangible assets.

As the groups were working on flipcharts, speakers at the business breakfast shared their views on the potential of intellectual property market in a rapidly changing technological world: the president of the IPChain Association Andrey Krichevsky and the chairman of the CO-FI crowdfunding platform Alexander Sukhotin.

“Today we see the rapid development of the internet market: digital and social networks are being integrated into every individual’s life. According to Andrey Krichevsky, it allows to speak about the existence of two markets of non-material assets: an obsolete “analogue” and a modern digital asset.

“While an “analogue” market shows its decline, the digital market, on the contrary, has been expanding rapidly. It happens not only in Russia, but in all countries with which we are now working together,” Mr. Krichevsky explained.

According to Mr. Andrey Krichevsky, the digital market of intangible assets has the potential for development, and its participants would need the methods for evaluating intellectual property assets rather than obsolete ones.

“Of course, the intellectual property market is a blue ocean, but only if we are talking about the digital market,” the president of the IPChain Association said.

Alexander Sukhotin, the chairman of the first crowdlending CO-FI platform in Russia, also spoke in support of the potential of the market of intellectual property assets. He explained a new potential which crowdlending opened up for the participants of the intellectual property market.

As Mr. Sukhotin emphasized, CO-FI helps to develop the potential of intellectual property as an independent value asset as opposed to tangible assets. “The development of the digital market enables us to use intellectual property assets as a financing guarantee,” Alexander Sukhotin said.

 

As the speakers addressed the audience, the moderator Anton Pronin commanded attention of the listeners to the work of two theme-based groups: conditional skeptics and proponents of the potential of the intellectual property market.

A group of skeptics named a reassessment of the value of IP objects, an absence of real products under patents, legal restrictions, an exploitation of the terms “blockchain,” “artificial intelligence,” for the hype, subtle actions of violators, and a number of other barriers as potential obstacles to the development of the IP market.

The supporters of blue ocean strategy brought forward such arguments as the development of R&D sphere and open innovations, promotion of cross-interaction between industries, introduction of “intangible currency,” among others. Up to 50% of the audience supported the skeptics while other 50% advocated for the long-term prospects of the intellectual property market.

To wind up the discussion, Anton Pronin said that the representative of the IPChain Association share the opinions of the believers in the powerful economic potential of intangible assets and intellectual property, expressing the hope that soon the market will see the qualified experts, furthering productive development of this segment of the market.