If a tree falls in a forest when no people are around, does it make a noise? Similarly, if a company asset is intangible, that is, it can’t be seen or physically touched, how can it tangibly contribute to a company’s value, revenue, profits, margins, reputation, image, goodwill, and competitive advantages?
Aligning a company’s intangible assets with its business strategy means recognizing most all decisions related to the utilization of intangibles, IP, know how, and competitive advantages are business decisions, not solely legal processes.
Decisions related to an organization’s intangible assets, intellectual property, proprietary know how, and competitive advantages are, first and foremost, business decisions, not solely legal processes.
Business decision makers may express skepticism about better utilizing, exploiting, and extracting value from their intangible assets because of an absence of confidence, unfounded concerns about the cost or processes involved, or even embarrassment about having not already done so!
When 75% of most companies’ value, sources of revenue, and future wealth creation lie in intangible assets and IP, it’s absolutely essential that business continuity-contingency planning today, fully incorporate-address those assets.
It’s important for business decision makers to recognize that the act of engaging in exporting, is, first and foremost, a business transaction.