Ah, but insider trading concerns shares, which are (usually) highly liquid and have a proven market value. As for IP, if a company is patents/trademarks/copyrig

Ah, but insider trading concerns shares, which are (usually) highly liquid and have a proven market value. As for IP, if a company is patents/trademarks/copyrights an asset, they anticipate that the asset is valuable enough to defend legally. This may or may not be the case, depending on the asset in question. A startup's stealth product is unproven, and it may turn out that it has little or no value. Hence: whether or not information has value depends on the information in question.