Intellectual property audits, accounting and valuation

Today, it is widely recognized that intellectual property assets are a primary source of value-added growth and competitive advantage for the business sector. This recognition that the value of a commercial enterprise resides in an organization’s intellectual property is a result of the shift in corporate composition from physical-capital intensive sectors towards knowledge-based industries including R&D activities, pharmaceuticals, biotechnology, and telecommunications equipment, whose value is in intangibles. Governments, public research organizations, and innovative businesses are therefore working to connect R&D more explicitly to their commercial strategies and break down the cultural barriers that have historically existed between the science laboratories and the business sector, with a view to ensuring that research efforts result in intellectual property that is capable of commercialization.

Related Subject(s): International Law and Justice