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The Emerging Patent Marketplace

1. INTRODUCTION

1.1. Changes in the innovation environment

In recent years, the environment surrounding R&D activities has been dramatically changing. Due to the growing technological complexity and technological convergence, it is becoming difficult and inefficient for a company to develop all technologies and components required for providing new products or services by itself, particularly in areas like ICT and Life sciences. Given the innovations contained in a mobile phone today ? camera, LCD screen, PDA system, web browsers, CPU chips ? few companies have the resources to produce them all themselves. In addition, with increased diversification of customer segments and customer needs, shorter product life-cycles, and the need of companies to develop new technologies and provide products or services to the market more rapidly than before. Furthermore, as a
result of the fact that the progression of ICT, such as the expansion of Internet, has enabled researchers throughout the world to easily access and share the information on advanced technologies, more useful technological ideas which may help create innovation are generated by various entities all around the world.

This means that, today, a lot of useful ideas which may boost business exist outside the company, not only inside it (JPO, 2008a).

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