The patent market is one of the last inefficient, illiquid markets in the U.S. economy. Information asymmetries among market participants create profit opportunities for service-orientated market intermediaries as well as patent assertion entities (PAEs). PAEs are a species of non-practicing entity whose business model often centers on patent infringement litigation. The patent monetization landscape also includes strategic and offensive behaviors by traditional operating companies who, like their non-practicing counterparts, leverage information asymmetries to achieve competitive advantage. This research provides a comparative analysis of patent-based business models and highlights the vital role market intermediaries play in bringing liquidity to the U.S. patent market. It asserts that intermediation in the IP marketplace is essential to support the evolution of IP from a simple asset to a mature asset class supported by a developed and sophisticated market. The paper adds to existing research by offering simple changes to federal tax code to help tame bad behavior while still incentivizing private-sector investment in innovation.