Profiting from Intellectual Capital: Extracting Value from Innovation

Tools and techniques from today's leading intellectual capital innovators: Xerox, Dow Chemical, Hewlett-Packard, Avery Dennison, Eastman Chemical, Rockwell, and Skandia "Patrick Sullivan . . . has brought together some of the best thinkers and best thinking on the subject of intellectual capital. Anyone who hopes to profit from intellectual capital will profit from Profiting from Intellectual Capital."-Thomas A. Stewart Author of Intellectual Capital: The New Wealth of Organizations. "A comprehensive collection of the key ideas for effectively managing intellectual assets in the twenty-first century."-Hubert St. Onge Senior Vice President, Strategic Capability, Mutual Life of Canada. "The first thorough exposition of how companies manage and extract value from their intellectual capital. The discussion of 'best practices,' as well as the high level conceptual examination of various intellectual capital issues, is an important contribution to this fast-growing field."-Baruch Lev, PhD The Philip Bardes Professor of Accounting and Finance, Stern School of Business, New York University, and Director, The Intangibles Research Project at New York University. "This is a remarkable compendium of analytic approaches to that most elusive of management goals-managing intellectual capital. It gives our 'state-of-the-practice' knowledge a most substantial boost."-Larry Prusak Managing Principal, Knowledge Management, IBM Corporation. "Sullivan brings together strategic management and intellectual capital. The combination is powerful."-Russell L. Parr Senior Vice President, AUS Consultants. In today's postindustrial economy, technology and knowledge-based companies are superseding traditional manufacturing enterprises at a rapid rate. But as tangible assets give way to invisible, information-centered ones, most firms still know very little about their intellectual capital and what it can do for them. While a number of books and articles have already been written about the knowledge-creation and information-sharing aspects of intellectual capital management, Profiting from Intellectual Capital takes the next step-examining how companies can develop financial benefits and extract ever more value from their intellectual capital. Divided into three sections, the book is filled with the practices and procedures of companies that are in the vanguard of ICM-Dow Chemical, Xerox, Rockwell International, Skandia, and Hewlett-Packard. The first part of the book presents essential terms and concepts, along with basic material on the principles of value extraction and a discussion of the usefulness of values in the management of intellectual capital. The two subsequent sections offer methods for IC measurement, management, and monitoring, as well as important techniques for extracting value-including such practical initiatives as creating an intellectual property database, patent trees, and more. Profiting from Intellectual Capital is essential reading for today's forward-thinking executives, attorneys, accountants, and other professionals. Because while knowledge is power, knowledge can be profits, too.

Table of Contents:
DEFINITIONS, CONCEPTS, AND CONTEXT. Introduction to Intellectual Capital Management (P. Sullivan). Basic Definitions and Concepts (P. Sullivan). Advanced Definitions and Concepts (P. Sullivan). Culture and Values Management: Context for the Development and Measurement of Intellectual Capital (B. Hall). In Search of a Paradigm (P. Westberg & P. Sullivan). The Confusion of the Capitals: Surveying the Cluttered Landscape of Intellectual "Capitals" and Terminology (M. Hall). Irreconcilable Differences? Managing the Knowledge Creation Interfaces (P. Grindley). Extracting Value from Intellectual Property (P. Sullivan). The IP Portfolio as a Competitive Tool (S. Harrison & K. Rivette). Creating the Portfolio Database (K. Hale). Intellectual Property Management: From Theory to Practice (S. Fox). Intellectual Capital Development at a Spin-Off Company (W. Manfroy & H. Gwinnell). INTELLECTUAL ASSET MANAGEMENT. Extracting Value from Intellectual Assets (P. Sullivan). The Intellectual Asset Manager (J. Daniele). Intellectual Asset Management at Dow Chemical (G. Petrash). Intellectual Asset Management at Avery Dennison (L. Morrison & P. Germeraad). Intellectual Asset Management at Neste (K. Laento). Making it Happen (P. Sullivan). INTELLECTUAL CAPITAL MANAGEMENT. Measuring and Monitoring Intellectual Capital (S. Harrison &T. Walker). Managing Intellectual Capital at Skandia (L. Edvinsson). The Role of Intellectual Capital in Valuing Knowledge Companies (J. O'Shaughnessy &P. Sullivan). Reporting on Intellectual Capital (P. Sullivan). Understanding and Managing Knowledge Asset for Competitive Advantage in Innovation and Product Development (J. Daniele). Maintaining the Stock of Intellectual Capital (P. Jajko & E. Prime). The Future of Intellectual Capital (P. Sullivan). Appendix.

About the Author :
PATRICK H. SULLIVAN, DBA, MS, BS, an expert at developing profits from intellectual assets, is a founding partner of The ICM Group, LLC, a consulting company focused on extracting value from intellectual capital. Dr. Sullivan has worked as an engineer on the launch team of the Saturn/Apollo moon project at Cape Kennedy. He has been a vice president of The MAC Group and a principal consultant at SRI International, where he managed the firm's general consulting practice in Europe. A sampling of his clients includes Dow Chemical, Xerox, General Motors, and Eastman Chemical. Dr. Sullivan is a Fellow of the American Council on Education, and a member of organizations that include the Licensing Executives Society (LES)-where he is currently Chairman of the Intellectual Capital Management Committee-the WIPO Trade Forum, and the American Bar Association Intellectual Property Section. A frequent speaker on intellectual capital management issues, Dr. Sullivan contributes articles regularly to the LES journal, Les Nouvelles, and is the coauthor of Technology Licensing, also published by Wiley.