Intellectual property and intellectual capital

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Abstract

This article focuses on the relationship between intellectual property
and intellectual capital. The broader concept of 'intellectual capital'
is a useful framework within which to analyse the relative merits
and drawbacks of reliance on proprietary rights over knowledge. Strategic
analysis of the costs, risks and benefits of various forms of proprietary
protection is vital in the context of rapid innovation in a 'knowledge
economy'. Maximising the value of the intellectual capital of the firm will
require: a considered assessment of the strengths and weaknesses of each
IP regime; combining reliance on the rules of intellectual property law with
other strategies; and re-evaluating the utility, function and expectations of
intellectual property protection in general. This article presents some
tentative conclusions concerning strategies to protect the intellectual
capital of the innovative firm. Its main themes are: (i) That intellectual
property will not be effective in protecting many aspects of intellectual
capital; (ii) That combining reliance on the rules of IP law with other
strategies will maximise the firm's control over intellectual capital; (iii)
That the real value of intellectual property rights may lie rather in their
transactional utility than in restricting competition-by-imitation; (iv) That
there may be advantages in investing in goodwill, rather than technological
innovation and ideas; and (v) That a firm should primarily focus its
intellectual capital strategies on maximising the value of the tacit
knowledge of its employees.
Original languageEnglish
Pages (from-to)10-26
Number of pages17
JournalIntellectual Property Forum
Issue number48
Publication statusPublished - 2002

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Intellectual capital
Intellectual property
Investing
Utility function
Intellectual property rights
Goodwill
Employees
Intellectual property law
Costs
Innovation
Knowledge economy
Imitation

Cite this

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title = "Intellectual property and intellectual capital",
abstract = "This article focuses on the relationship between intellectual propertyand intellectual capital. The broader concept of 'intellectual capital'is a useful framework within which to analyse the relative meritsand drawbacks of reliance on proprietary rights over knowledge. Strategicanalysis of the costs, risks and benefits of various forms of proprietaryprotection is vital in the context of rapid innovation in a 'knowledgeeconomy'. Maximising the value of the intellectual capital of the firm willrequire: a considered assessment of the strengths and weaknesses of eachIP regime; combining reliance on the rules of intellectual property law withother strategies; and re-evaluating the utility, function and expectations ofintellectual property protection in general. This article presents sometentative conclusions concerning strategies to protect the intellectualcapital of the innovative firm. Its main themes are: (i) That intellectualproperty will not be effective in protecting many aspects of intellectualcapital; (ii) That combining reliance on the rules of IP law with otherstrategies will maximise the firm's control over intellectual capital; (iii)That the real value of intellectual property rights may lie rather in theirtransactional utility than in restricting competition-by-imitation; (iv) Thatthere may be advantages in investing in goodwill, rather than technologicalinnovation and ideas; and (v) That a firm should primarily focus itsintellectual capital strategies on maximising the value of the tacitknowledge of its employees.",
author = "{Van Caenegem}, William",
note = "reprinted with permission From: IPSANZ [ipsanz@internex.net.au] Sent: Monday, 25 September 2006 2:14 PM To: Yvonne Auld Subject: RE: Intellectual Property Forum - Requesting permission to archive 1 article in Bond University Institutional Repository Importance: High Dear Ms Auld Thank you for your email. The Society is happy to give permission for an electronic version of the article Intellectual Property and Intellectual Capital , written by Prof W Van Caenegem and originally published in the Society's journal, Intellectual Property Forum, Issue 48, to be deposited in the University's Institutional Repository . Kind regards Andrew Goatcher Secretary",
year = "2002",
language = "English",
pages = "10--26",
journal = "Intellectual property forum: Journal of the Intellectual Property Society of Australia and NZ",
issn = "0815-2098",
number = "48",

}

Intellectual property and intellectual capital. / Van Caenegem, William.

In: Intellectual Property Forum, No. 48, 2002, p. 10-26.

Research output: Contribution to journalArticleResearch

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