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Management of intellectual assets by organisations Introduction Intellectual assets, in a broad term of definition is defined as "intangible assets, such as knowledge,
CAPITAL MODEL Introduction There are many valuable assets for any organisation including visible and invisible. The focus of contemporary organisations are on knowledge
that significant advantage is gained by the enterprises able to turn their intellectual resources into non-material assets, that is, the enterprises, possessing technology
rapid growth in the service sector. Human resources hold valuable knowledge and information, which sets them a part as the source in creating intellectual capital
elaborating further on the kinds of processes that leaders and managers should be involved in and responsible for. (Viitala, 2004) Moreover, the specific managerial
Submitted by chaerul on June 19, 2008
Category: Technology
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Introduction
Intellectual assets, in a broad term of definition is defined as “intangible assets, such as knowledge, know-how, copyrights, patents, brands, trademarks and information, IPR (Intellectual Property Rights) of an organisation”. While the definition of intellectual assets is unsophisticated, a further elaboration on the meaning of “intangible assets” rationalized the importance of this insubstantial but highly important asset in today’s business perspective.
Intangible assets are defined as those non-monetary assets that cannot be seen, touched or physically measured and which are created through time and/or effort. There are two primary forms of intangibles:
1. legal intangibles (such as trade secrets (e.g., customer lists), copyrights, patents, trademarks, and goodwill) and
2. competitive intangibles (such as knowledge activities (know-how, knowledge), collaboration activities, leverage activities, and structural activities).
Legal intangibles generate legal property rights defensible in a court of law. Competitive intangibles, whilst legally non-own able, directly impact effectiveness, productivity, wastage, and opportunity costs within an organization - and therefore costs, revenues, customer service, satisfaction, market value, and share price.
Human capital is the primary source of competitive intangibles for organisations today. Competitive intangibles are the source from which competitive advantage flows, or is destroyed.
To understand the management of intellectual asset relationship of the elements connected with the term intellectual asset need to be understood correctly. The following Diagram; describes the associations between intellectual asset and its others intangible asset “siblings” mentioned above.
Diagram 1 – Souce ICM Group USA
Diagram 1 can be further explained in a simplified diagram 2...
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