This report aims to shed light on the role of markets and networks for knowledge-based assets. Knowledge Networks and Markets (KNMs) comprise the wide array of mechanisms and institutions facilitating the creation, exchange, dissemination and utilisation of knowledge in its multiple forms. This document provides new evidence on the knowledge-sourcing strategies of firms and their role in shaping innovation activities, according to different characteristics, and their impact on performance. It proposes a conceptual framework for understanding how KNMs support knowledge flows and the transfer of intellectual property (IP) rights, supported by a number of novel examples. It considers more specifically some developments in the market for IP rights, looking in the first instance at the evidence on the size of the market and the role of intermediaries. The role of public policies in the IP marketplace is also considered, with particular emphasis on some new forms of policy interventions such as government-sponsored patent funds. This document briefly reviews some key features of the markets and networks for knowledge originating in public research organisations, as well as the role of intermediaries such as technology transfer offices, whose role has been changing rapidly in recent years. Finally, the analysis of knowledge markets is extended to the market for knowledge embodied in highly skilled employees. The mixed impact of mobility on innovation is noted, considering in particular the use of agreements to restrict the movement of human capital and the potential implications of their enforcement. Some proposals for inclusion in a future measurement agenda are outlined.