Where Intangibles Meet Innovation:
New Reports and Conferences
Editor's Note - the full article can be found at http://www.entovation.com/whatsnew/intangbile-innovation.htm)
As most knowledge professionals are well aware, considerable progress has been made toward identifying new Intellectual Capital measures as a foundation for successful innovation. We can argue the precise validity of the various formulas currently being explored, but the reality is that "being roughly right is better than being precisely wrong," suggests Leif Edvinsson. In 1996, we examined the notion of Innovation Capital produced in a Skandia Report - and most recently outlined the Power of Innovation Capital, we now know that several prominent magazines as featuring cover stories to that effect (e.g., Fortune, Forbes, CFO Magazine et al).
What may not be familiar to most, is the major economic study that has been underway at The Brookings Institute (Washington, D.C. USA) - "Understanding Intangible Sources of Value." Several ENTOVATION colleagues have been involved, and the pre-publication of the report, Unseen Wealth, authored by Project Directors, Margaret M. Blair and Steven M.H. Wallman, is now available for purchase. An annotated bibliography appears citing documents from Tax Policy, Human Capital )labor, employment, training), SEC and Financial Reporting, Capital Markets, R&D Policy, Intellectual property, Strategic Organizations, Macroeconomic Implications, and Related Conferences, Symposia and Other Materials.
The 42 individuals who helped prepare this report believe the inability to clearly define and measure intangible assets is a serious potential problem for business managers, investors and the government. This report examines this problem and makes recommendations for businesses and the government that, the authors believe, will improve the quality and reliability of information about intangible sources of value in the economy.
As part of the Study, Brookings commissioned a report to be written by Baruch Lev, professor of accounting at New York University's Stern School of Management. He has assembled in one place available data and other information documenting trends in investments in intangibles, and review existing practices regarding measuring, monitoring and reporting of these investments. The report will outline what is known about how firms and other organizations make decisions involving investments in intangibles, and what economic theory says about the private and social costs and benefits of such investments. Finally, this document assesses the institutional environment (e.g. regulations, reporting requirements, tax rules, capital budgeting practices, professional accounting standards, and constraints imposed by lenders and other providers of capital) within which decisions are made about investing in intangibles and reporting on these investments.
The publication is available free of charge at http://www.stern.nyu.edu/~blev.
With the close of the Millennium, a conference was sponsored in New Dehli, India. ENTOVATION Global Knowledge Map participant - Parthasarathi Banerjee (National Institute of Science, Technology, India) and Developmental Studies) and Frank-Jurgen Richter (ThyssenKrupp, Germany) have edited an anthology of papers soon to be published - Intangibles in Competition and C-operation: Euro-Asian Perspectives - based upon the conference presentations. Titles include: "Competition for Co-operation - How Exchange Enabling Assets Influence a Firm's Success in International Co-operation," "Competition and Cooperation between the Japanese and British Management Models in the UK," "Making the Intangible Tangible," and "Innovation Competence - Intangibles in the Cooperative Innovation Process" - to mention a few. More details will be later available, but if you cannot await publication announcement, please contact Parthasarathi Banerjee - email@example.com.
An Intangibles Conference Not to be Missed
This is advance notice of the 4th Annual Conference sponsored by the Stern School of Management for May 17-18, 2001. As you can tell from the program announcement, expected lectures come from the finest academic research, the latest FASB innovations and the commentary provided by lead authorities in the field, such as Thomas Stewart and Larry Prusak. For a summary of the conference from last year, visit the I3 UPDATE archives (no. 41).
This conference - notably without peer - tackles the central issues concerning intangibles - measurement and valuation. Leaders of national level experiments (US and Denmark) will report progress in designing new corporate disclosure systems; and developers of users of non-conventional intangible measures will present clinical case studies. For further information, contact Autherine Allison (firstname.lastname@example.org).
© Copyright, 2001. Debra M. Amidon - All rights reserved.
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