Intellectual Property Asset Management: A New Dimension For Business Leadership

Abstract

As we move rapidly toward a knowledge society, intellectual property (used interchangeably hereinafter with "IP") is becoming the primary differentiating factor between companies (Drucker, 199 2). In the knowledge society, the means for production becomes intellectual property which is held within each individual employee within a company, along with a well thought out strategy for managing a company's IP. Leadership is required to ensure that this IP intellectual property is fully utilized by the company through an effective strategy. Leadership has been defined as the ability of an individual to use influence to produce an outcome (Bennis & Nanus, 1985; Bums. 1978). Pertaining to IP it is essential that all individuals in a company understand tire outcomes desired and tire influence and power tactics that promote and further an effective IP strategy. In this is paper, we define the parameters of intellectual property and outline tire importance of developing and implementing an effective IP asset management strategy as an essential component of organizational leadership.