“If it can’t be measured, it can’t be managed”, an adage attributed to Peter Drucker that, in my view, carries more relevance today than when it was initially uttered. That’s because increasing percentages (65+%) of company’s value, sources of revenue, and foundations for growth evolve directly from intangible assets
The significance of the study does not lie so much in the reality that competitors will attempt to imitate/replicate others’ intangible assets, rather, the management/leadership team and board fiduciary responsibilities to exercise consistent oversight and monitoring of their intangible assets
The management, stewardship, and oversight of company intangibles are rapidly moving from options, i.e., I’ll do it when I have the time or when I see my competitors do it, to straight-up fiduciary responsibilities which cannot be prudently delegated to the uninitiated.
There is no other time in the history of company governance when ensuring control, use, ownership, and value of intangible assets and mitigating the attendant (asymmetric) risks is a more direct contributor to achieving growth, profitability, competitive advantages, and sustainability!
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.