||Many companies-particularly those in the new technology and new media areas-now have intellectual property as their major asset. Different from tangible capital (finances, buildings, equipment) intellectual capital is not visible; it is neither measured nor reported, and the information about this intellectual capital cannot be reported to stockholders. Nonetheless, this intellectual property does have value, and companies need to know what it is, where it resides, how to invest it, and how to harvest it. This book will outline the best way to document and manage intellectual assets using methods developed by the companies that have already implemented practices and procedures in this area.
|Editors Note 1
||Tools and techniques from today's leading intellectual capital innovators: Xerox, Dow Chemical, Hewlett-Packard, Avery Dennison, Eastman Chemical, Rockwell, and Skandia|"Patrick Sullivan . . . has brought together some of the best thinkers and best thinking on the subject of intellectual capital. Anyone who hopes to profit from intellectual capital will profit from Profiting from Intellectual Capital."-Thomas A. Stewart Author of Intellectual Capital: The New Wealth of Organizations.|"A comprehensive collection of the key ideas for effectively managing intellectual assets in the twenty-first century."-Hubert St. Onge Senior Vice President, Strategic Capability, Mutual Life of Canada.|"The first thorough exposition of how companies manage and extract value from their intellectual capital. The discussion of 'best practices,' as well as the high level conceptual examination of various intellectual capital issues, is an important contribution to this fast-growing field."-Baruch Lev, PhD The Philip Bardes Professor of Accounting and Finance, Stern School of Business, New York University, and Director, The Intangibles Research Project at New York University.|"This is a remarkable compendium of analytic approaches to that most elusive of management goals-managing intellectual capital. It gives our 'state-of-the-practice' knowledge a most substantial boost."-Larry Prusak Managing Principal, Knowledge Management, IBM Corporation.|"Sullivan brings together strategic management and intellectual capital. The combination is powerful."-Russell L. Parr Senior Vice President, AUS Consultants.|In today's postindustrial economy, technology and knowledge-based companies are superseding traditional manufacturing enterprises at a rapid rate. But as tangible assets give way to invisible, information-centered ones, most firms still know very little about their intellectual capital and what it can do for them.|While a number of books and articles have already been written about the knowledge-creation and information-sharing aspects of intellectual capital management, Profiting from Intellectual Capital takes the next step-examining how companies can develop financial benefits and extract ever more value from their intellectual capital.|Divided into three sections, the book is filled with the practices and procedures of companies that are in the vanguard of ICM-Dow Chemical, Xerox, Rockwell International, Skandia, and Hewlett-Packard. The first part of the book presents essential terms and concepts, along with basic material on the principles of value extraction and a discussion of the usefulness of values in the management of intellectual capital. The two subsequent sections offer methods for IC measurement, management, and monitoring, as well as important techniques for extracting value-including such practical initiatives as creating an intellectual property database, patent trees, and more.|Profiting from Intellectual Capital is essential reading for today's forward-thinking executives, attorneys, accountants, and other professionals. Because while knowledge is power, knowledge can be profits, too.