Profiting from Intellectual Capital: Extracting Value from Innovation / Edition 1

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In today's postindustrial economy, technology and knowledge-based companies are superseding traditional manufacturing enterprises at a rapid rate. But as tangible assets give way to invisible, information-centered ones, most firms still know very little about their intellectual capital and what it can do for them. While a number of books and articles have already been written about the knowledge-creation and information-sharing aspects of intellectual capital management, Profiting from Intellectual Capital takes the next step-examining how companies can develop financial benefits and extract ever more value from their intellectual capital. Divided into three sections, the book is filled with the practices and procedures of companies that are in the vanguard of ICM-Dow Chemical, Xerox, Rockwell International, Skandia, and Hewlett-Packard. The first part of the book presents essential terms and concepts, along with basic material on the principles of value extraction and a discussion of the usefulness of values in the management of intellectual capital. The two subsequent sections offer methods for IC measurement, management, and monitoring, as well as important techniques for extracting value-including such practical initiatives as creating an intellectual property database, patent trees, and more. Profiting from Intellectual Capital is essential reading for today's forward-thinking executives, attorneys, accountants, and other professionals. Because while knowledge is power, knowledge can be profits, too.

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Editorial Reviews

Thomas A. Stewart
Patrick Sullivan . . . has brought together some of the best thinkers and best thinking on the subject of intellectual capital. Anyone who hopes to profit from intellectual capital will profit from Profiting from Intellectual Capital.
Hubert St. Onge
A comprehensive collection of the key ideas for effectively managing intellectual assets in the twenty-first century.
Baruch Lev
The first thorough exposition of how companies manage and extract value from their intellectual capital. The discussion of 'best practices,' as well as the high level conceptual examination of various intellectual capital issues, is an important contribution to this fast-growing field.
Larry Prusak
This is a remarkable compendium of analytic approaches to that most elusive of management goals—managing intellectual capital. It gives our 'state-of-the-practice' knowledge a most substantial boost.
Russell L. Parr
Sullivan brings together strategic management and intellectual capital. The combination is powerful.
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Product Details

  • ISBN-13: 9780471193029
  • Publisher: Wiley
  • Publication date: 3/31/1998
  • Series: Intellectual Property Law Series
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 384
  • Product dimensions: 1.00 (w) x 6.00 (h) x 9.00 (d)

Meet the Author

PATRICK H. SULLIVAN, DBA, MS, BS, an expert at developing profits from intellectual assets, is a founding partner of The ICM Group, LLC, a consulting company focused on extracting value from intellectual capital. He has been a vice president of The MAC Group and a principal consultant at SRI International, where he managed the firm's general consulting practice in Europe. Dr. Sullivan is a Fellow of the American Council on Education, and a member of organizations that include the Licensing Executives Society (LES)-where he is currently Chairman of the Intellectual Capital Management Committee-the WIPO Trade Forum, and the American Bar Association Intellectual Property Section. A frequent speaker on intellectual capital management issues, Dr. Sullivan is the coauthor of Technology Licensing, also published by Wiley.

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Table of Contents

1 Introduction to Intellectual Capital Management 3
2 Basic Definitions and Concepts 19
3 Advanced Definitions and Concepts 35
4 Culture and Values Management: Context for the Development and Measurement of Intellectual Capital 43
5 In Search of a Paradigm 59
6 The Confusion of the Capitals: Surveying the Cluttered Landscape of Intellectual "Capitals" and Terminology 76
7 Irreconcilable Differences? Managing the Knowledge Creation Interfaces 84
8 Extracting Value from Intellectual Property 103
9 The IP Portfolio as a Competitive Tool 119
10 Creating the Portfolio Database 129
11 Intellectual Property Management: From Theory to Practice 142
12 Intellectual Capital Development at a Spin-Off Company 157
13 Extracting Value from Intellectual Assets 173
14 The Intellectual Asset Manager 186
15 Intellectual Asset Management at Dow Chemical 205
16 Intellectual Asset Management at Avery Dennison 221
17 Intellectual Asset Management at Neste 242
18 Making It Happen 253
19 Measuring and Monitoring Intellectual Capital 267
20 Managing Intellectual Capital at Skandia 279
21 The Role of Intellectual Capital in Valuing Knowledge Companies 284
22 Reporting on Intellectual Capital 298
23 Understanding and Managing Knowledge Assets for Competitive Advantage in Innovation and Product Development 305
24 Maintaining the Stock of Intellectual Capital 319
25 The Future of Intellectual Capital 328
App Valuing Intellectual Properties 335
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