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Paucity vs. Captivity Development in the Knowledge Economy

Paucity vs. Captivity Development in the Knowledge Economy. The role of property and capital in wealth creation.

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Paucity vs. Captivity Development in the Knowledge Economy

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  1. Paucity vs. Captivity Development in the Knowledge Economy

  2. The role of property and capital in wealth creation The total value of real estate not legally owned by the poor of the Third World and former communist nations is at least $9,3 trillion... about twice as much as the total circulating US money supply... and nearly as much as the total value of all the companies listed on the main stock exchanges of the world’s twenty most developed countries... twenty times the total direct foreign investment into all Third World and former communist countries in the ten years after 1989… forty-six times as much as all the World Bank loans of the past three decades, and ninety-three times as much as all development assistance from all advanced countries to the Third World in the same period. - Hernando de Soto, The Mystery of Capital

  3. The role of property and capital in wealth creation [LDCs] hold resources in defective forms: houses built on land whose ownership rights are not adequately recorded, unincorporated businesses with undefined liability, industries located where financiers and investors cannot see them. Because the rights to these possessions are not adequately documented, these assets cannot be traded into capital, cannot be traded outside of narrow circles where people know and trust each other, cannot be used as collateral for a loan and cannot be used as a share against an investment. - Hernando de Soto, The Mystery of Capital

  4. Using the concepts of assets, property and capital Assets as valuable objects A P C Property as objects for commercial transactions Capital as objects in an machinery for creation of wealth Source: CIP

  5. Managing knowledge-based business Asset Management -Define, value, claim, manage new ideas & knowledge as firm assets R&D management Open innovation management Knowledge management Information management, etc Property Management -Define, value, claim, manage new ideas as value propositions IPR management License management Management of virtual products Standardization management Open source management, etc Intellectual Capital Management -Define, value, claim, manage new ideas & knowledge as objects in a financial machinery • Securitization & management of IP as collateral • Controlling, accounting & taxation • Governance of bankruptcy estates, etc

  6. IP from a knowledge economy perspective • New role of IP • IP to build not block • IP doesn’t block innovation, people do • IP as the key to openness • The knowledge economy is not about knowledge per se, but the control of knowledge • If knowledge is the new wealth of nations, access to knowledge will likely be seen as a human right • Welfare technologies (agriculture, water, environment, medicine, etc.) • In the knowledge economy we are all developing countries

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