The Rise of the Intangible Asset
For companies in the S&P 500, more than 80% of their value is in intangible assets compared to less than 40% in intangible assets just 30 years ago (Ocean Tomo). This dramatic shift is partly due to the fact that intellectual property (IP) has become increasingly valuable as both a financial and strategic asset.
The truth about patents
Once reserved as an obligation for a company’s legal department, patents and IP have been elevated to the boardroom—making it imperative that CEOs, CFOs, and CTOs have a working knowledge of how patents can protect innovation, contribute to the bottom line, and increase their competitive edge.
Contrary to common perceptions, the Market Research on Patent Attitudes study indicates the C-suite shares the belief that patents are valuable:
|Patents are a distraction to business and are perceived negatively.||68% of business leaders have a positive perception of patents; only 7% have a negative opinion.|
|Patents are stifling innovation, and businesses are worse off with patents.||70% of business leaders representing more than 30 industries say that patents are good for innovation.|
|Patent litigation is common and business leaders are losing faith in the value of patents.||More than 85% of C-suite believes that patent rights should be respected and enforced if they’re infringed.|
C-Suite Executives in Action
Becoming informed on patents is valuable, but you don’t have to be an expert to make patents work for you. Read how three companies worked with IV to mitigate their IP divide and increase their IP potential.