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The Intangible Advantage: Understanding Intellectual Property in the New Economy is the first-ever text on intellectual property (IP) aimed at ordinary citizens, especially college students. As such, it is an important innovation in and of itself — one that hopefully will solve a big problem in American education.

Until now, intellectual property has been taught only in law schools or the occasional business school seminar. In today’s knowledge economy, however, this is no longer sufficient. That’s because over the last 40 years, intellectual property has grown from an arcane, narrowly-specialized legal field into a major force in American social and economic life. It comprises an astonishing 45 percent of total U.S. GDP today, and represents 80 percent of the market value of all publicly-traded companies in the U.S.

Put simply, intellectual property is now the chief engine of wealth creation and economic growth in the world. And as such, it has become a subject of vital importance for all Americans, not just those in the legal profession.

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