Most business professionals generate a tremendous stream of IP throughout their careers. It’s easy to recognize products and services that generate income, but the real question is how much money are you leaving on the table?

“Approximately 85 percent of a company’s value resides in such intangibles. Unfortunately, many of those assets go unexploited because they are hard to inventory, manage, or even recognize.”

How much of your IP could be leveraged through other marketing channels, strategic relationships or joint ventures?

Ask yourself a few simple questions. Have you developed concepts, ideas, processes, systems or protocols that could have value for other businesses in your industry? How much IP has your business developed over the years that your are not pursuing anymore? One of the easiest ways to add revenue streams is to license previously developed IP to startups or to collaborative industry colleagues. These stored intellectual assets can garner leverage, good will AND create revenue.

Surprisingly, many businesses don’t want to invest the time and energy to assess the value of their existing IP because they have no way to measure the time investment to generate a potential payoff. Have you come to recognize valuable IP that was previously hidden in plain sight? If so, leave a comment and let us know how you did it. If you’d like to get a few strategies on how to do it, stay tuned.

Cheers, Steve Olds

This entry was posted on Friday, October 12th, 2007 at 12:24 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.