It is incumbent on leadership teams and boards today, regardless of company size, industry sector, or product/service lines, to manage and protect their intellectual capital (IC) as both a fiduciary responsibility and economic necessity.
Safeguarding - Mitigating Risks to IA
Not unlike other enterprise-wide initiatives, advocates of, and those charged with implementing enterprise risk management programs will likely encounter some obstacles and/or resistance.
It takes years to build a company’s reputation, but today, a company’s reputation can be severely damaged, if not irrevocably lost, in a single day’!
It’s prudent today to assume (1.) there are – will be risks embedded in every business operation or transaction and (2.) intangible assets and IP will be integral and negotiated elements and/or features to those business operations and transactions.
In 2010 it would seem to be a ‘no brainer’ that enterprise risk management initiatives should universally encompass, without argument, a company’s intangible assets!