|1.||The intellectual property may be owned by an individual or an enterprise that utilizes the property to maintain a monopoly with respect to a product it makes and/or sells, or a service it provides.|
|2.||The intellectual property may be owned by an individual or an enterprise that does not utilize the property directly, but is willing to sell or license it to others.|
|3.||An individual or enterprise may purchase intellectual property or take an exclusive license thereunder to avail itself of a public franchise afforded thereby.|
|4.||An individual or enterprise may take a nonexclusive license of the intellectual property so as to be able to offer a new product or service in a competitive environment.|
Let us consider each category separately.
Consider, for example, a pharmaceutical company selling a patented blockbuster drug. While the patent is active, the company enjoys a large market share and can charge for its drug whatever the market will bear. Once the patent expires (or is invalidated in court), a score of generic