Intellectual Assets - the hidden value of your business
Intellectual Assets (IA) tends to be spread throughout a business, since they tend to be associated with the operation of the business. They include assets of your business ranging from the skill set which allows your business to operate, through to that which gives you a competitive edge.
Businesses tend to fail to recognise and protect many of their Intellectual Assets. Often there is an assumption that other professionals associated with the business will take care of these matters, though commonly they are neglected - either slipping through the cracks, or because it is only recently that businesses have started to realise the value of Intellectual Assets.
Some of the Intellectual Assets which a business might own include:
- trade secrets and processes [how do you keep these secret, and what about when staff leave?]
- customer lists [how long did these take to acquire?]
- customer management [why do they prefer to deal with your business?]
- supplier lists [how long did it take to find out the best and most reliable suppliers?]
- key staff [what is the true cost of replacing them?]
- and so on
Being aware of and utilising these Intellectual Assets may give rise to further IA
- market intelligence strategies to monitor competitor activity
- new innovation strategies to stay ahead of your competition
- Intellectual Property strategies to maintain or enhance business advantage and opportunities
- staff retention programmes to minimise losses from staff movement
- and so on
The question to now ask yourself is - Do you even know what your Intellectual Assets are, and are they safe? If the answer is No, not only are you vulnerable but also missing opportunities for business growth.
Intellectual Assets (IA) tends to be spread throughout a business, since they tend to be associated with the operation of the business. They include assets of your business ranging from the skill set which allows your business to operate, through to that which gives you a competitive edge.
Businesses tend to fail to recognise and protect many of their Intellectual Assets. Often there is an assumption that other professionals associated with the business will take care of these matters, though commonly they are neglected - either slipping through the cracks, or because it is only recently that businesses have started to realise the value of Intellectual Assets.
Some of the Intellectual Assets which a business might own include:
- trade secrets and processes [how do you keep these secret, and what about when staff leave?]
- customer lists [how long did these take to acquire?]
- customer management [why do they prefer to deal with your business?]
- supplier lists [how long did it take to find out the best and most reliable suppliers?]
- key staff [what is the true cost of replacing them?]
- and so on
Being aware of and utilising these Intellectual Assets may give rise to further IA
- market intelligence strategies to monitor competitor activity
- new innovation strategies to stay ahead of your competition
- Intellectual Property strategies to maintain or enhance business advantage and opportunities
- staff retention programmes to minimise losses from staff movement
- and so on
The question to now ask yourself is - Do you even know what your Intellectual Assets are, and are they safe? If the answer is No, not only are you vulnerable but also missing opportunities for business growth.
Most businesses do not know what their Intellectual Assets are.
Most businesses have not adequately secured their Intellectual Assets.
Most businesses do not use their Intellectual Assets to promote business growth.
Most businesses have not adequately secured their Intellectual Assets.
Most businesses do not use their Intellectual Assets to promote business growth.
