Global Trends (2020–2024)Growth Drivers & Performance:- Patents: Surged in AI, biotech, and green energy (global filings ↑8% YoY 2021–2023). Licensing revenue reached $425B+ in 2023-24 (12% YoY growth).
- Media Rights: Streaming dominance fueled royalties (global music royalties ↑9% YoY to $39B in 2023-24; sports/media rights ↑15% YoY).
- Litigation Risk: Patent trolls cost firms $30B+ annually; EU/U.S. regulatory scrutiny intensified.
- Data Gap: Royalty streams lack standardized valuation, but top-tier patents yield 8–12% IRR.
Sector Shifts:- Pharma patent cliffs ($200B+ drugs expiring by 2025) accelerated generic licensing.
- AI-generated IP ownership disputes escalated (50%+ cases in 2023-24 involved generative AI).
Russian Market (Post-2022)Sanctions-Driven Isolation:- Foreign patent filings ↓90% (2022–2023); access to WIPO/PCT systems restricted.
- "Parallel IP" emerged: Unauthorized use of Western patents/trademarks (e.g., pharmaceuticals, tech).
Domestic Activity:- Critical tech patents up 18% YoY (2023-24) in agritech and import substitution.
- Royalty streams shifted inward: Domestic media rights up 25% RUB (2023-24) due to piracy crackdowns.
- Valuation Collapse: International royalty deals froze; IP assets trade at 20–40% discount vs. global peers.
IP vs. Other Alternative AssetsAttribute | Intellectual Property | vs. Real Estate | vs. Private Equity | vs. Art/Collectibles |
Income Potential | Royalties: 6–15% yield | Stable (4–7% rent) | Back-ended | None |
Liquidity | Very Low (bespoke sales) | Illiquid | Very Low | Very Low |
Valuation Clarity | Subjective (expert-dependent) | Appraisal-based | Audited | Subjective |
Geopolitical Risk | Extreme (sanctions void IP) | High (expropriation) | High (sanctions) | Extreme (seizures) |
Carry Costs | Legal fees, renewal costs | Taxes, maintenance | Management fees | Insurance, storage |
Russian Viability | Limited (state-controlled sectors) | Warehouses viable | Defense/import-substitution | Domestic art only |
Conclusion:IP offers high-margin royalty streams globally but suffers
extreme jurisdiction risk in Russia. Legacy R&D assets hold niche value, but sanctions and talent flight cripple long-term viability. Prioritize royalty-backed media rights or state-aligned patents. For global investors, emerging markets (India, china) offer superior IP growth without sanctions.