What Is Intellectual Asset Management?

Intellectual assets are the fastest growing type of corporate assets. Economic power has shifted to businesses that have capitalized effectively on inventions, technologies, know-how and other intellectual capital. A business with vast holdings of natural resources or physical assets would never neglect the management of such corporate resources. Yet intellectual assets are frequently overlooked, undervalued, or under-utilized.

Intellectual asset management combines technology, law, and business to discover, protect, and maximize intellectual assets. The goal: to improve bottom-line profits.

Intellectual assets range from what traditionally are regarded as intellectual property, such as patents, trademarks, and copyrights, to such intangible assets as know-how, business methods, and proprietary information and databases.

The effective management of these intellectual assets is vital to protecting a company’s competitive advantage.