What we do: Assess your IAM
Having a firm grasp and understanding of the assets a company holds is fundamental to effective management. It would be unthinkable for a business not to record the properties they own or the plant and machinery or, for that matter any of their other capital assets. Having recorded them, it would, likewise, be highly unusual for the management not to endeavour to make best use of those assets.
The situation should be exactly the same for a Company's IA (Intellectual Assets). If they haven't been recorded, they can't be properly managed and so cannot provide a commensurate return to the business.
The IA Audit Tool
The IA Audit tool is designed to allow you to make an initial appraisal of the IA contained within your business. The list of headings is by no means exhaustive, but should be used as an aide memoir to assist you in identifying your organisation's IA. As such they should be used as a "starter for ten."
Your IA Register should be treated as a dynamic document which evolves with your business, and needs to be reviewed and updated on a regular basis. The register can be used as an appendix to your business plan, marketing plan or other strategic documents and as a tool in reviewing actions you should take to safeguard or exploit your IA. In addition, elements of this list may give you pointers which can be used in PR and marketing your organisation's services or products.
When starting on the route to IA management for your business, remember all the time the reasons why the businesses needs to be looking at its IA.
Intellectual assets have value, but also remember that IA can
- Be traded - e.g. licensed, franchised, sold, mortgaged etc
- Inform business strategy including suggesting and controlling diversification - e.g. alternative business models, alternative streams of income, areas for product development
- Add kudos and act as a marketing tool
- Deter competition and provide means to prevent competition
However, IA has to be managed in order to extract the benefits and leverage the assets appropriately.
Please note that none of the categories are exhaustive. Each company will have variations on the theme unique to themselves and so you should look critically at your own business for other, perhaps more appropriate, intellectual assets. The important things are to be comprehensive, accurate and realistic.
