Open the newspapers and every other day you are bound to find news of some new and interesting invention making headway, each of it protected by a slew of patents. Then there is news of companies acquiring other companies primarily for their intellectual property. Welcome to an era of securing your invention and allowing others to access your knowledge base, but with the tag of offering you a credit in cash or name. Companies today are in a competitive race, with each one trying to invent products that are better than their predecessors or create absolutely unique products.

    Google’s recent announcement of contact lenses that can measure glucose levels in a person’s tears is set to revolutionize monitoring techniques for diabetics in a non-invasive way. Similarly, with Tesla and Toyota Motors opening up their patents for royalty-free use is poised to encourage automobile manufacturers to make high-quality hybrid and pollution-free vehicles.....