IAM Explained: Benefits of IAM
It is well recognised that the wealth and growth in today's economy are primarily being driven by intangible assets.
As the market value of a business can be a significant multiple of the 'book value' or physical assets, (e.g. just look at GlaxoSmithKline, Microsoft, McDonalds, Virgin etc.), managers are increasingly looking at how they develop, manage and exploit their intellectual assets.
You could be reaping commercial benefits from your IA.
The intellectual assets of any organisation need to be managed. These assets are not tangible and do not have any visual dimension, but they do have value. Efficient and appropriate management of IA is essential to ensure your organisation achieves its optimum performance and growth.
Effective IA management involves capturing critical knowledge, and retaining this for the future, be it for internal use or for trading to other organisations. There are a multitude of benefits in managing your organisation's IA, see prime examples below:
Trading IA Whether IA comprises of confidential information/ trade secrets, patents, designs or copyrighted material, it can be traded. Routes for commercial exploitation include licensing; assignment (selling); franchising; mortgaging etc.
Investment Packaging a proposition for investment or a merger/acquisition. Including an IA register which itemises all of the aspects of IA the organisation has will enhance a business plan, pinpointing key areas of expertise and demonstrating an understanding of where the value lies in the organisation. A number of short form registers may be written for presentation in different contexts.
Business strategy - can inform strategy by suggesting and controlling diversification into new sectoral or geographic markets. In addition, may influence new product development and alternative business models.
Building a service proposition or used in a tender document - bundling aspects of IA which may be either used internally or traded, such as a tool for activities including as sales training and after sales care, or can be communicated to customers to highlight the scope of the service they will receive.
