Michael D. Moberly October 30, 2009
In no other arena of economic and social relations has the phrase ’knowledge is power’ (coined by Sir Francis Bacon in 1597) proved more relevant than in today’s global knowledge-based economies wherein profitable business operations and transactions are increasingly dependant on company management team’s ability to foster, harness, utilize, and convert intangible assets (knowledge, know how, intellectual capital, etc.) into value, revenue, competitive advantages, and market position.
To do so consistently however, the rightful holder of those assets (management teams) must (also) be able to sustain (protect, preserve, manage) those assets’ control, use, ownership, and monitor their value and materiality throughout their respective value – life – function cycle.
In intangible asset-IP intensive companies, consistent and effective stewardship and oversight of the know how (intangible assets) produced are essential managerial (stewardship, oversight) dimensions, particularly with respect to a company’s sustainability, growth, and ability to execute successful transactions when those assets are in play and/or part of a deal. In any case, each is literally underpinned and shaped by the interconnected and frequently broadly dispersed flow of data and intellectual capital (intangible assets). This makes it all the more essential that the holders of those assets sustain sufficient control, as a prelude and/or precursor to, realizing (gaining) any economic – competitive advantage benefits.
In other words, ‘knowledge is (can be) economic – competitive advantage power’ today, as Sir Francis Bacon suggested it would in 1597, but only if its owner/holder can effectively sustain the necessary control, use, and ownership, and monitor its value and materiality indeterminately!