Reginald Grant's Blog: A Serial Entrepreneur - Posts Tagged "intellectual-property"

Entrepreneur: Your Guide To Starting Your Business
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Understanding Intellectual Property “IP”
Intellectual Property – Changing the way the world does business!
Excerpt from Youth Entrepreneurial Impact Program, textbook by Reginald Grant, MS Ed.

For previous generations manufacturing was the driving force in economic success, that all changed. Today in America and the world the driving force behind economic success is directly tied to the development of IP or intellectual property. Creating economic value from things developed is crucial in these times.

Previously, the main sources of competitive advantage were the availability of natural resources and a skilled labor market. While these factors remain important, intellectual property must now be included as a critical driver of business profitability. For firms, intellectual property contributes to distinct products. For the economy as a whole, intellectual property fosters innovation and risk-seeking behavior, and entrepreneurs and investors must choose wisely. One of the inherent advantages of intellectual property businesses is the low initial startup capital required. Of course, once a certain level is reached significant traditional financial investment is required. For many companies, it is also a factor that leads to significant challenges of strategy, finance, and business organizations.

"The global economy has shifted from the manufacturing-based economy of the last century to the knowledge-based, innovation-driven economy of the 21st century. Whereas access to raw materials and factory output helped define success in this last era, access to ideas and the ability to create tangible business value from them will define success in the knowledge economy. Smart money believes this is a long-term, irreversible trend.”

A Few Facts:

• In the United States alone, technology licensing has generated an estimated $45 billion annually, with licensing globally approaching $100 billion annually. For example, a leading company like IBM has returns from its IP portfolio that are estimated at more than $1 billion annually, which accounts for 12 cents of IBM's earning per share.
• According to The Economist, 75% of the value of companies is attributable to their intellectual property.
• Intellectual-property intensive industries contribute $5 trillion per year to the U.S. economy.
• These industries account for about 35% of gross domestic product and 40 million jobs, including 28% of jobs in the U.S.

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The Entrepreneurs Mindset

“What Elite Athletes and Entrepreneurs have in common.”
Elite Athletes and Entrepreneurs share common DNA the “Never give up gene.” The ability to block the world out and focus on a goal, the “Goal Velocity Function.”

I originally wrote this section for a book by Michael McNair “Untangle Your Mind.” As of the publication of my book that book has not been published. The byline was Not Even A Brick Wall Could Stop My Success. I outline my journey and compare the qualities of a highly motivated elite-athlete and entrepreneurs.

Elite Athletes and Entrepreneurs share common DNA the “Never give up gene.” The ability to block the world out and focus on a goal, the “Goal Velocity Function.”

As I stated earlier Elite Athletes and Entrepreneurs share common DNA the “Never give up gene.” The ability to block the world out and focus on a goal, the “Goal Velocity Function.” The ability to make it happen despite the odds. The ability to singularly focus on the task at hand. We are different because we think different, our minds are wired to achieve. Nothing can stop us because we choose to allow our minds to focus on success not failure. Our failures are the building blocks to our success.


“Today is CASH the best day of my life. Yesterday is a canceled check. Tomorrow is a promissory note I may never collect. Today is Cash the best day of my life.” Reginald Grant, MS Ed.