Intellectual Property Profit  

Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce. Intellectual property surrounds us in nearly everything we do. No matter what we do, we are surrounded by the fruits of human creativity and invention.

 

       How then do we understand the impact of intellectual property rights in terms of ‘Profit’? How do companies profit by patenting their services?
Companies whose earnings do not clearly flow from actual sales and real assets find themselves punished by investors. Paradoxically, however, some companies face a different challenge: making use of assets that could generate revenues but haven’t been fully exploited. These neglected assets take the form of intellectual property—patents, proprietary technologies, and processes—that could be sold or licensed to others.

      When above average profits are generated on a consistent basis, intellectual properties are responsible. Intellectual properties can control costs of production or introduce product characteristics that command premium selling prices. Well recognized trademarks are good examples. Customers are willing to pay, on a consistent basis, more money for a “Lacoste” logo. Premium selling prices are not only associated with trademarks. Patented products can also command premium prices. Patented pharmaceutical are an example. Patented drugs can sell at several dollars per tablet, while aspirin cost pennies.

     Ultimately, companies must understand that uncommercialized intellectual property is a wasted corporate asset. They must make the sale of these assets a way of life, giving the unit responsible for it a clear place in the company’s strategy and wide latitude to make deals. Exploiting intellectual property to the fullest extent is certainly difficult—that is why most companies are not capable of doing it alone.

 

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Employee-Release-Of-Rights-To-Intellectual-Property      Do we realize that the products created by many companies, nowadays, are intellectual property? All of us, who work as knowledge workers, create intellectual property through our work. More..

 


 

 

 
   
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