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Article: Innovation on overtime: with the right strategic management approach, you can get a lot more value from your intellectual property. Understand what you have and you will profit. Here's how.
- Article from:
- CMA Management
- Article date:
- November 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Society of Management Accountants of Canada. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Innovation is considered the cornerstone for economic growth today, and yet we rarely define what it really entails. If we consider it carefully, we see that innovation includes all types of intellectual capital and intellectual property--from know-how to patents--and includes high tech and low tech inventions of all kinds.
But innovation isn't limited to the direct results of research and development, or to companies that set out to invent something. There are all kinds of innovation in all kinds of companies, but some of it goes unnoticed because it's not the direct object of a company's business activities. It's imperative that we get a better grasp of what ...