[rleigh]

It ultimately doesn't matter much. What matters is that you have the ability to manufacture a product. You can own as much IP as you like, but if you don't have the capability of using that in a production process then it really is the Emperor's New Clothes.

Having the capability is important. Outsourcing has removed the crown jewels from many companies, leaving them little more than marketing shells. The real value is in the technical know-how and skills of the people who actually made those companies run. Without that, there is no company and no product.