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Industry Expertise

Companies can significantly boost their suite of intangible assets by employing people with industry expertise. These valuable people offer the company a better understanding of the needs of customers and help improve both the productivity and efficiency of its different processes. People develop expertise over time through education, training and hands-on experience. Protecting staff with industry expertise from being poached by rivals is crucial and can usually be achieved by offering a mix of competitive salaries, extra benefits and further opportunities for education. Legal tools, such as non-compete and non-disclosure agreements, can also prevent staff from sharing confidential information with rivals.