Leveraging Knowledge: The intellectual property of an organization
What is the meaning of Intellectual Property ( IP ) of an organization ? The word Intellectual gives the clue that these types of property are the result of some mind or brain related activities. Now the word property gives us the claim or exclusive right which can be enforced by Law. So the Intellectual Property is like real world property of any organization on which the organization has exclusive right and it is protected by law.
So the question comes, can knowledge be an Intellectual Property? Employees experience over a period of time can be IP of a company? Any idea can be an IP of any organization? Answer for all these is NO. Here as we say IP of an organization is protected by law so many intangible part of the organizational property is protected by Law and the organization has exclusive right over it. So the organization must understand what can be transferred as intellectual asset and what can't.
When a new creative product comes out through an innovative process or any artistic work or the trade mark of the organization are some examples of Intellectual Property (IP) of the organization.
What are those properties ( components ) or assets of an organization which constitutes the Intellectual property of an organization?
These are the some of the Intellectual properties of an organization. They are well protected by law of the land. When IP ( Intellectual Properties) plays so important role in growth of a company so it must understand the process of creation of Intellectual Property and manage it well to its benefit.
At present in knowledge economy the value of Intellectual capital is more than the real word capital of an organization. In the days to come the percentage of IP will overcast the physical property in the total assets of the organization. The future belongs to organizations which can leverage its IP to give optimum value to its share holders.