For years Intellectual Property (IP) has been growing in importance. For many companies, their IP is their most valuable asset. For example, Coke’s trademarks and brands are estimated to have a value of $80,000,000,000.
Another example is the case of Apple v. Samsung, where a design patent resulted in an astronomical damages award.
Even outside of the tech sector, IP is very valuable as it can protect a company’s brand, an artist’s masterpiece, or an inventor’s design.
The bottom line is that IP protects a company’s very valuable intangible assets.