Intangible asset risk is often regarded as either not important at all, or important but not urgent. But when things go wrong, things can become catastrophic quite quickly. Hear Paul Adams, CEO of EverEdge Global, discuss what companies need to consider when it comes to mitigating intangible asset risk.
Companies don’t spend millions of dollars filing intangible assets such as patents, trademarks and plant variety rights to stuff them in the bottom drawer.
Today, more than 87% of a company’s value and earnings growth is derived from intangible assets and it follows that companies will aggressively defend these assets – including through litigation, if necessary.
Ineffective or “free” intellectual property strategies are costing NZ companies millions. It’s a strange reality but most NZ businesses spend more on coffee than they do on their intellectual property strategy.
In the last article we surveyed some of the technical and reputational risks presented by companies trying to extract value from a key intangible asset: their data. Now we look at some key legal risks.
There is no question that data, correctly leveraged can deliver huge benefits. Over 87% of company value today is now in intangible assets and data, alongside brand, software code and confidential information, are critical to everyday business. Your customer list? That’s data. Your inventory management system? That’s data. In fact many of a company’s most basic functions from invoicing to advertising would grind to a halt without data.
Historically intellectual property strategists have tended to divide the world into two broad camps with the “hard rights” (such as patents, trademarks and copyrights in code) sitting somewhat aside from “soft rights”, such as know how, branding and distribution, and copyright in designs and product concepts. However, the combination of such hard and soft rights can often produce outcomes where the whole is worth far more than the sum of its parts.
Over the last 24 months cyber-security has exploded into public consciousness as organisations from Ashley Madison to the Democratic National Committee have been successfully targeted in cyber-security attacks.
Building an export business is full of challenges: exchange rates, import regulations, foreign cultures, remote staff and endless international flights. The rewards of exporting are high, but so are the costs and risks.