[ppml] alternative realities (was PIv6 for legacy holders (/wRSA + efficient use))

George Kuzmowycz George.Kuzmowycz at aipso.com
Wed Aug 1 10:09:21 EDT 2007

Saying that markets "might not form" is not the same as saying markets
will not form.

Lack of liquidity may lead to inefficiencies in pricing, but it does
not mean that purchases and sales are impossible. Accountants are able
to assign value to all sorts of things that mere mortals consider
intangible or illiquid. Probably even some readers of this list work for
or have worked for an employer that compensated them at least partially
in promises instead of cash (i.e. options), or in things of value that
couldn't easily be sold (i.e. restricted shares).

Seeing on ebay may be the reductio ad absurdum, but on the
other hand, is, say, a struggling manufacturing firm with a legacy B
more or less valuable as an M&A target than a similar firm with no such
IP space? If more valuable, then by how much?

I think history shows that market mechanisms are better at distributing
scarce resources than central planning is.

>>> "Paul Vixie" <paul at vix.com> 08/01/2007 1:49:47 AM >>>
<D03E4899F2FB3D4C8464E8C76B3B68B0C47F64 at E03MVC4-UKBR.domain1.systemhost.net>
(that's a message-id), michael dillon did a fine job of explaining why
a market
might not form

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