Intangible Assets – Corporate Governance Tool (On The Example Of Conformity Marks)

Abstract

In conditions of increasingly fierce competition, companies are interested in attracting a variety of tools within the framework of corporate governance that allow them to realize a competitive advantage. The use of the tools provided by technical regulation in the form of intangible assets will make it possible to ensure sustainable development more effectively. These are objects that are put into wide circulation by the legislation on technical regulation-signs of conformity and signs of circulation on the market. Features of influence of marks of conformity to national standards on increase in cost of the company as objects of intellectual property, and the factor rendering positive influence on growth of business reputation are considered. Another aspect of the application of marks of conformity to national standards is related to the concept of "business reputation of the company". The application of the mark of conformity is manifested in the form of increased sales. This fact has a positive impact on the increase in the capitalization of the company. With regard to the circulation mark on the market, another sphere of application within the framework of corporate governance has been identified – it is related to the corporate social responsibility of the company in the areas of safety and environment, and is manifested in the long term in the form of improved relations with such stakeholders as business partners, government authorities and others, which affects the improvement of the company's image and growth of its capitalization.