Capturing IP and the Knowledge That Makes It Valuable

While every business keeps its portfolio of assets, not every business manages its most crucial assets: intellect and knowledge. Indeed, these assets may not easily be measured on a balance sheet, but they are the fundamental resources that maintain a competitive edge in any industry. Certainly, much of these assets goes undocumented and ends up lost, or not even captured. Intellectual property assets created by employees are frequently unnoticed, disregarded, or forgotten. Operating knowledge, without which intellectual property would be valueless, is routinely lost through retirement or attrition. Organizational “know-how” and intellectual creations that increase a company's efficiency must be paramount considerations in the growth and development models of a business. Fortunately for corporate leaders, employee-produced intellectual property, and employee-retained knowledge assets, can be captured and protected from the inception of business.