Intellectual property is the central resource for creating wealth in almost all industries. The foundation of commercial power has shifted from capital resources to intellectual property. Nowhere is this truer than in biotechnology and pharmaceuticals. In fact, the definition of capital resources is shifting. No longer does the term capital resource bring to mind balance sheets of cash or pictures of sprawling manufacturing plants. The definition of capital includes intellectual property such as technological know-how, patents, copyrights and trade secrets. Corporations once dominated industries by acquiring and managing extensive holdings of natural resources and manufacturing facilities. Barriers to entry were high because enormous amounts of fixed asset investments were required to attempt displacing well-entrenched players. Today, companies that once dominated industries are finding themselves fighting for survival. Up-start companies are creating new products and services based, not on extensive resource holdings or cash hordes but on intellectual property resources.