PRLog - Aug. 18, 2014 - NEWPORT BEACH, Calif. -- US companies annually waste $1 trillion in under-used intellectual property assets according to a report by Forrester Research. The biggest reason for this waste is the lack of understanding by business owners and CEOs of how to manage and make money with these IP assets.
Over the last decade, study after study is confirming the wealth creating power of IP rights. It is the driver of economic growth, incomes, jobs, investment, and trade. Among the key findings of these reports is intellectual property-related industries (and businesses) tend to grow at approximately twice the rate of the economy as a whole.
Today over 80% of the value of a business is its intangible assets, primarily in the form of intellectual property. Understanding how to create, manage and make money with IP is now one of the most important skills for any business owner or CEO.
This is a powerful message for business owners and CEO’s around the world. It means business and intellectual property go hand in hand. IP is a company’s most important asset and effective IP management is essential to its survival and growth. It’s an integral part of a company’s competitive advantage and critical to it’s on-going success. Businesses that are ill-prepared to operate in this environment will be at a competitive dis-advantage.
Licensing Consulting Group (http://www.licensingconsultinggroup.com) is offering a free e-course, 7 Ways to Build your Business with IP Licensing. The e-course covers 7 strategies businesses can use to commercialize and leverage their IP assets. The course is available at http://www.licensing4profits.com/