Knowledge, information and intellectual property: implications for marketing relationships

Abstract

Knowledge and information have become an essential asset determining the profitability of technology-intensive enterprises. In knowledge-based industries, knowledge and information can be marketed to potential partners or clients separately from the products and services that are based on the application of specific knowledge. In the new, global computer-intensive economy, the knowledge base of the economy can determine the approval of an enterprise as a producer of future solutions. This means that it is crucial that enterprises identify and develop their knowledge base, not least in their market relationships. Knowledge emerges in network relationships between an enterprise and its surrounding organisations, and can be legally protected as intellectual property (IP). A clearer notion of the way IP can be analysed may improve the economic outcome of investments in innovation. Relationship marketing clearly has a role in the marketing of technological innovation and product development. A high-tech enterprise faces several decisions influencing its position in the market when developing its knowledge base. Key decisions determining the relationships established in a knowledge-intensive market include (i) make or buy decisions; (ii) organisational association or isolation; (iii) the innovation or adaptation of new technology; (iv) the protection or exploitation of knowledge; (v) public or private research funding; (vi) safeguarding or sharing of IP; and (vii) pioneering advantages or disadvantages.