Intellectual Property is like any other property and the developed countries respect and comply with Intellectual Property [ (1),(2) and (2.1)1.History of Intellectual Property.
2.Wikipedia’s History of Intellectual Property 2.1.Compendium of patents statics 2006
] India has to do the same. Historically, India was the seat of knowledge and wisdom, and India was the leader in most disciplines. Nalanda and Takshila were the seats of wisdom [ (3) ]3.Manusmriti

In the first century AD India contributed 33% to world GDP, China 26% and United States 0.5% . This continued up to 1820. In 1870 the British Empire contributed 24% China 17% British India 12%, U.K. 9% and the United States 9%. By 1913 the British Empire 21% . United States 19% , China 9% , U.K. 8 % and India 7% . As on 1950 both  India and Chaina were 4%, U.K. 6% and the United States Had gone up to 27%. This shows that, till around a 150 years ago, India was one of the world leaders contributing more than 20% toward world GDP. It is only in the last 150 year that India has degenerated and the world has moved at a rapid pace further aggravating India's position.In the last 150 years America from 2% has come to more than 20% of the world GDP today. the main reason for this growth in united States and deterioration in India is the respect for knowledge.[ (3.1) ]3.1.List of regions by past GDP (PPP)

Today, the US is at the cutting edge of technology due to Harvard, Yale, Stanford etc. UK is due to Oxford and Cambridge. India has to get back to its past glory by respecting and promoting Intellectual Property. Most of the Indian MNCs are based on pricing and competitive costing models and not on Intellectual Property. This has to change.

Once Intellectual Property is respected and we stop copying and scavenging, we will immediately become a developed country. All our Intellectuals should be focused on Intellectual Property and then we can become a developed country faster than we can imagine. We have to become leaders and not followers.

The most important asset required for Intellectual Property is the human brain. Einstein barely used the computer. We have one of the largest numbers of qualified brains in the world. India has to become the knowledge capital of the world. It is just an issue of mindset. Capitalism and Intellectual Property is the answer and not Socialism and Protectionism. The wealthiest persons in the world like Bill Gates and Warren Buffet are giving back their wealth to society. Scientists will substantially benefit the world with their knowledge and wealth in the future.

USA and Japan filed around 400,000 patents each annually. India files 60,000 patents annually. We should be filing around 400,000 patents per year within 3 years. The cost of a provisional patent is about Rs.10,000/-. The business model for scientists is to use their brains, file patents and then out-license the same to companies with capital and distribution.[ (3.2) ]3.2.Statical Outline Of India 2005-06

The genesis of Silicon Valley was Thomas Edison and his team of scientists. MIT and Harvard today have reserves of several billions of dollars [ (4) and (5) ].4. Harvard Endowment Fund.
5. List of Endowment funds of the various universities in the world
It will not take long for the IIM's and the IIT's to amass huge capital, once they focus on Intellectual Property. The Government of India is providing substantial benefits for Intellectual Property. Funding is available from The Dept of Science and Technology (DST), tax benefits etc are also available. Scientists will soon keep business managers to manage their Intellectual Properties.

Nanotechnology is the future and it covers all industries without exception. Nanotechnology is the language of nature. Nature works at Nano, Femto, and Pico levels
 [ (6) and (7) ]6. Nanotech Patents
7. Nanotechnology Map
Only 1.5% of nature is known. 98.5% of the DNA has been termed as Junk DNA. Now it has been proved that Junk DNA has functions. We have a vast untapped potential available to be unraveled. If Intellectual Property is not protected, there will be no incentives for individuals to embark on the quest and pursuit of the unknown.

Intellectual Asset Management has now become a complete discipline by itself and there are various experts available. In fact there is a complete magazine dedicated to this subject. [(8) (9) (10)]8.Intellectual Asset Management Magazine
9.Intellectual Asset Management Advisory
10.Japanese approach to Intellectual Asset Management

Valuation of companies largely depends on their Intellectual Property (intangible assets).
[(11)]11.Top NASDAQ companies Intellectual Property strategies
A large number of modern economy companies have valuations in excess of few hundred million dollars with barely any sales and huge losses on their balance sheet. This is due to their large Intellectual Property Assets. [(12a, 12b, 12c, 12d, 13, 14)]12a) – Insite Vision (ISV)
12b) – BioProgress (BPRG)
12c) – Penwest Pharmaceuticals (PPCO)
12d) – Generex Biotechnology Corporation (GNBT)
12e) – Novadel Pharma (NVD)
13.Intangible Assets account for 90% of the assets of the modern economy companies..
14.Texas Instruments get their major income from licensing their Intellectual Property.

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