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Hunter, Laurie --- "A Management Perspective" [2006] ELECD 347; in Bosworth, Derek; Webster, Elizabeth (eds), "The Management of Intellectual Property" (Edward Elgar Publishing, 2006)

Book Title: The Management of Intellectual Property

Editor(s): Bosworth, Derek; Webster, Elizabeth

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845421120

Section: Chapter 4

Section Title: A Management Perspective

Author(s): Hunter, Laurie

Number of pages: 19

Extract:

4. A management perspective
Laurie Hunter

1 INTRODUCTION

It is only in the last 20 years or so that the role of intangible assets
has begun to be seriously addressed in the business management
literature, although some specific forms of intellectual capital such as
patents, trademarks and brands have long been recognized as significant
contributors to corporate value creation. What has changed is the growing
recognition that intellectual capital is a component of a broader range
of intangible assets, whose development and management is critical to
the competitive capabilities of an increasing proportion of contemporary
businesses (Kay 2000). The reason for this new recognition will be
examined in more detail later in this chapter, but for the moment it is
enough to note that many of the familiar and traditional sources of
differentiation among competitors have been neutralized by the emerging
globalization of trade and developments in information technology and
communication (Quah 2001; Teece 1998). Geographical advantages have
been diminished, distinctions between products have been blurred and
many new market areas have been created. These trends, in turn, have
enhanced the importance of intangible assets as a source of differentiation
and competitive advantage because they are much more difficult to imitate
and transfer. They have thus moved centre stage as a vital factor in
competitive rivalry in many sectors of business.
The relative novelty of systematic analysis of intangibles means that, as
with any new area of knowledge, there is some lack of commonly agreed
definitions, concepts and taxonomy. Likewise, ...