The field of intellectual property is recognized as being of fundamental importance for business research, and many researchers throughout the world have turned their attention to it. The purpose of this paper is to consider the current status of intellectual property management in the light of developments over the last literatures, and then to discuss the continuing value of the concept. In light of advancement, this paper aims to clarify the concept of intellectual property business model, and then identify three component factors which are technology transfer, technology licensing, outsourcing and asset partition. Drawing on the Chesbrough (2003) perspective, the study proposes four research propositions about intellectual property management. Finally, the study points out some suggestions for future research and managerial implications.