Offensive strategy
Intellectual property can also help to develop offensive strategies to take a position on an existing market. Thus, the purchase or sale of licenses is an excellent mean to obtain or grant rights which may be decisive following areas (such as in telecommunications with the sale of licences to operate 3G networks).
In some cases, it can increase considerably the cost of competitors requiring them for example to pay compensation or forcing them to pay a license, or by requiring them to make a complementary phase of R&D and / or redevelop production processes / modify the routing / change the strategy /...
You always have to keep in mind that these rights may also be granted to your competitors, which themselves may force you to take a license, or anything else listed above. As intellectual property is a weapon that is even better enhanced that it is used early in the process of developing a business.
Why is intellectual property (patent, trademark, copyright, ...) relevant for you?