Duncan Bucknell
Strategic Intellectual Property
When a company splits in two, one side usually ends up renting what it used to own. Which side, and on what terms, is decided in the separation workstream that gets...
October was a month about the gap between owning a right and controlling an outcome. A valid patent on a drug’s mechanism that left its owner with no market. A licence...
The price of frontier AI capability is falling towards zero. The consequence for an IP strategy is not that AI has become cheaper. It is that anything you thought you were...
The patent is rarely where the money is decided. The licence is. Three IP developments from the past week make that point, and each turns on terms settled, or left unsettled,...
If AI collapses the cost of making your product, the question is no longer how cheaply you can make it. It is what stops a competitor making the same thing. That...
There are two ways to hold a position in a technology. You can own the technology. Or you can own what it takes to build and install the technology at volume....
Adding AI to a product is not a strategy. Moving to where the value is going is. And every real move changes what your company controls, which makes it an IP...
Capability is not what separates an attacker from a defender. Incentives are. Ben Thompson’s Stratechery piece of 24 August 2026 works this through in agentic cybersecurity, and the logic travels a...
Global banking has just posted the most profitable year of any industry – US$1.3 trillion in net income – and still trades at the lowest price-to-book of any industry. McKinsey’s preview...
A treatment that works once and keeps working for years is a very different commercial asset from a pill taken every day. The value is created up front. It then has...
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