Intellectual Assets Management Model

Abstract

Proper and efficient identification, classification and treatment of intangible assets represents an important matter to be handled by organizations especially when undertaking research and development actions. This is more so the case for intellectual property assets which require expertise and specific resource planning. The purpose of the paper is to unfold the intellectual assets management process required for creating and extracting value from intellectual assets. To this end an intellectual assets management model was designed taking into consideration both accounting treatment of intellectual assets and strategic alignment with the general objectives of the organization. The model is designed using a standard notation and a Business Process Modeling (BPM) instrument in order to create a dynamic process flow capable of capturing and preserving value from intellectual assets by documentation, analysis, simulation and evaluation of the management process.