Techniques to Turn Intellectual Property into More Profitable Assets

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Patents, copyrights, trademarks and trade secrets are legally protected rights referred to collectively as intellectual property (IP), a major component of intellectual capital. As decisions about investment in and commercial exploitation of IP become increasingly critical to a business's success, CPAs can contribute to a company's efforts to maximize the value of IP assets. CPAs are trusted business advisers who bring objectivity to the process of quantifying the value of intangible property such as IP.

A thorough understanding of a company's IP portfolio is critical for the development of a strategic IP management system, and CPAs who understand a company's business plan are …