Intellectual property (IP) is well recognized as an important economic asset. Many companies rely heavily on their IP to contribute value to their enterprise: Apple has built an empire on its trademarked logo and branding, Coca-Cola on its secret soft drink formula, and Pfizer on its pharmaceutical patents (to name just a few). The economic value of IP and its strong relationship to business is even reflected in IP legislation. For example, trademark statutes in various jurisdictions share an underlying policy of promoting free and fair competition in trade.
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"Economic Approaches to Intellectual Property, by Nicola Searle and Martin Brassell."
Osgoode Hall Law Journal