Components of Gross Domestic Product (expenditure-based)

• 2. - Gross fixed capital formation
• 2.1 - Business gross fixed capital formation

2.1.3 - Intellectual property products

'Intellectual property products' refers to products that are the result of research, development, investigation or innovation leading to knowledge that the developers can market or use to their own benefit in production because use of the knowledge is restricted by means of legal or other protection. The knowledge may be embodied in a free-standing product or may be embodied in another. When the latter is the case, the product embodying the knowledge has an increased price relative to a similar product without this embodied knowledge. The knowledge remains an asset as long as its use can create some form of monopoly profit for its owner. When it is no longer protected or becomes outdated by later developments, it ceases to be an asset.