Michael D. Moberly September 9, 2009
In today’s globally competitive and nanosecond business (transaction) environment, its important for decision makers to frame intellectual capital management within their company (and intangible assets and intellectual property) as collaborative exercises. Above all, intellectual capital management should involve perspectives from functional and business unit leaders and senior (c-suite) officers that’s not packaged solely through a legal context or technology management lens.
Intellectual capital management strategies carry long term implications and consequences, some of which are irreversible. The probability that outcomes (to IC management) will be more effective and profitable occurs when it is conceived and framed, from the outset, as strategic business decisions in which legal and technology management are integral, but the ultimate (business) decision, may not defer to either.
Without being dismissive of company management teams’ other responsibilities, achieving a level of familiarity with intellectual capital (along with other intangible assets) sufficient to make sound, confident, and strategic (business) decisions, entails preparatory steps such as holding discussions, training, and/or seminars, etc., to respectfully elevate their awareness and familiarity.
Experience suggests that management teams find the following to be particularly relevant and beneficial insofar as acquiring fundamental insights to aid them in making decisions about managing (their company’s) intellectual capital:
1. Distinguishing the various forms/contexts in which intellectual capital exists.
2. Assessing intellectual capital performance (as an asset), i.e., its status, stability, fragility, defensibility, sustainability, and contributions to value, revenue, competitive advantage, market share, reputation, etc.
3. Identifying where and how intellectual capital assets originate and evolve within the company.
4. Designing and executing (company specific) strategies to effectively:
a. utilize, bundle, leverage, and/or convert intellectual capital (assets) to value, revenue, and foundations for future wealth, growth, and expansion.
b. sustain control, use, ownership, and monitor the value of intellectual capital (assets) throughout their respective life, value, and functional cycles, as needed.