The importance of managing innovation (and the cost of not managing it)
Of all asset classes intangibles are the largest by far and they are largely unknown, unmanaged and illiquid.
80% of a corporations value lies in its intangible assets (PWC study, 2004)
98% of corporate, government and academic patents are never licensed (Lawrence Livermore Study, 2007)
30% of all R&D is reinventing something that has already been invented (Lord Sainsbury Report, 2007)
$59 Billion of intellectual assets are stolen each year in the US alone
The practical implications of this are:
Over $50 Trillion of our corporate assets are largely unknown and unused
We can be at least 50 times more effective in generating IP revenues
At least $300 Billion of R&D spending every year is wasted
Through a few simple steps to prevent theft we can save a further $100 Billion worldwide per annum
It is clear to all that innovation and its effective management is critical to the growth and competitiveness of our economy. Managing innovation and capturing its lost value is enabled with IDDEX.