Have you only been given half the story?
A key business tool that successful organisations are aware of is Intellectual Capital. An accountant provides a balance sheet identifying your financial capital. However this is only half the story as there are assets which are more useful, and potentially more valuable to your business - the Intellectual Capital. Intellectual Capital (IC) is a combination of your Intellectual Property AND your Intellectual Assets.
So why haven't you heard of it?
Most professionals are unaware of it, though this is very slowly changing. Even large multinationals until relatively recent times were unaware of it. Then they started to hit harder times as their markets changed during the technology revolution. They started to look inwardly and reassessed their true assets. It is only 2015 that McLaren Racing announced that it was becoming McLaren Technology after such a re-evaluation (read more)
What did they discover?
They discovered they owned a lot of Intellectual Property, which did not appear on financial balance sheets, that could be sold or licensed to generate significant revenue.
They discovered they had a lot of Intellectual Assets in the form of R&D expertise, specific manufacturing capabilities, distribution networks, and business relationships which would allow them to readily grow the business outwardly, and provide the flexibility to adapt to a rapidly changing market affecting their core business. They realised what they were actually truly capable of, and put this knowledge to work.
So what do I do now?
There are five questions all businesses should ask themselves.
1. What is my Intellectual Property?
2. What are my Intellectual Assets?
3. How am I securing them?
4. How am I using them to grow the business?
5. How am I using them to protect the business?
Isn't this rather simple? Yes, each question can be broken down into many parts. We have compacted all that into five key questions. Why don't you ask them at your next board or partners meeting.
So, how can IPRIMA help.
IPRIMA Patent Attorneys provide a range of services that can be tailored to assist you and your team of professionals in answering these questions. We can help you identify your Intellectual Capital. We can teach you ways to leverage your Intellectual Property. We can assist creating an IP strategy and portfolio matching your business objectives. We can teach key staff skills to ensure your Intellectual Capital remains secure, and how it may be used for the advantage of your business.
So why haven't you heard of it?
Most professionals are unaware of it, though this is very slowly changing. Even large multinationals until relatively recent times were unaware of it. Then they started to hit harder times as their markets changed during the technology revolution. They started to look inwardly and reassessed their true assets. It is only 2015 that McLaren Racing announced that it was becoming McLaren Technology after such a re-evaluation (read more)
What did they discover?
They discovered they owned a lot of Intellectual Property, which did not appear on financial balance sheets, that could be sold or licensed to generate significant revenue.
They discovered they had a lot of Intellectual Assets in the form of R&D expertise, specific manufacturing capabilities, distribution networks, and business relationships which would allow them to readily grow the business outwardly, and provide the flexibility to adapt to a rapidly changing market affecting their core business. They realised what they were actually truly capable of, and put this knowledge to work.
So what do I do now?
There are five questions all businesses should ask themselves.
1. What is my Intellectual Property?
2. What are my Intellectual Assets?
3. How am I securing them?
4. How am I using them to grow the business?
5. How am I using them to protect the business?
Isn't this rather simple? Yes, each question can be broken down into many parts. We have compacted all that into five key questions. Why don't you ask them at your next board or partners meeting.
So, how can IPRIMA help.
IPRIMA Patent Attorneys provide a range of services that can be tailored to assist you and your team of professionals in answering these questions. We can help you identify your Intellectual Capital. We can teach you ways to leverage your Intellectual Property. We can assist creating an IP strategy and portfolio matching your business objectives. We can teach key staff skills to ensure your Intellectual Capital remains secure, and how it may be used for the advantage of your business.
Intellectual Property relates to what your business does.
Intellectual Assets relate to how your business works.
Intellectual Assets relate to how your business works.
