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34 Supremo Amicus [1] (2024)

handle is hein.journals/supami34 and id is 1 raw text is: SUPREMO AMICUS \ T ft VOLUME 34 1 JANUARY 2024 ISSN 2456-9704 MIDAS TOUCH - TRANSFORMING INTELLECTUAL ASSETS INTO GOLD By Akhila M S LLM (IPL), School ofLaw, Christ (Deemed to be University)Bangalore By Dr. Kajori Bhatnagar Assistant Professor, School ofLaw, Christ (Deemed to be University)Bangalore. Abstract: Intellectual assets are considered indispensable in today's world as there is a shift towards knowledge based economy. Intellectual assets have bhcome tIe force behind innovation, differentiation, competition and market dominance. The challer e i ij capturing the value locked in the inteli ual tJ like copyright, patents, trademarks. trade secrets etc. Intellectual property law grants exclusive rights to the owners to exclude competitors from infringement, and it also gives positive rights to deal witlh the asset in any manner as the owner may deem fit. The article deals with the main difference between intellectual assets and intellectual property as this distinction is important for the management to take appropriate business decisions. The management is naired to. analyse the merits and demerits of eacl flle and decide whether they wish to register the Ilectual asset in a specific category of intellectual `perty or maintain it as a trade secret or confidential information. The article discusses the importance of intellectual assets and its management. In the last pa rt of the article, it deals with the stages of creation, management and monetisation of intellectual assets. Management strategies are crucial to unleash the full potential of the intellectual assets. It explores the methods that can be adopted by the management to turn its intellectual assets into gold. It discusses the challenges and opportunities that lie in management and monetisation of intellectual assets. It further gives an overview of the various avenues for monetisation of intellectual property assets. 1 Consolidated Balance Sheet of The Coca Cola Company, 2023, https://investors.coca- colacompany. com/financial-information/balance- sheet accessed 27 December 2023. Keywords: intangible assets, intellectual property, management, strategies and monetisation. Introduction The important thing is not to stop questioning. Curiosity has its own reason for existing. One cannot help but be in awe when one contemplates the mysteries of eternity. Never lose a holy curiosity. The quote by Albert Einstein stands true even today with respect to innovation and creation. It acts as a motivation for innovators and creators to indulge in creation of intellectual assets in this dynamic world. In the recent times, economy is driven by technology and intangible assets have played a major role in the success of a business. The focus of companies has shified froi quiring tangible assets such as land, btildigs res, equipment, etc. to intangible assets s@ as co ht patents, trademarks, designs, trade seeJets. etc locking the true value of these assets E33res nogement techniques and strategic onentisation policies. As per the financial report of The Coca Cola Company for the year 2022-2023, the trademarks are valued at $14,213 million, goodwillis valued at $18,144 million and other intangible assets are valued at $528 million. The total value ofintangible assets is $32,885 million, whereas t total of tangible assets is $8,860 million.1 Telefonak#iebolaet LM Ericsson has over 60,000 patents and it is expected to generate revenue of SEK 11 billion approximately in 2023-2024 through licensingits patents.2 The companies with intellectual assets have been successful in monetising it with strategic management policies. However, there is no one best strategy for management of intellectual assets. Intellectual assets v. Intellectual property The business entity is required to understand the difference between intellectual asset and intellectual property in order to effectively manage, exploit and protect the assets. The distinction between the two terms is important to understand the process of registration and level of protection. At the outset, 2 Ericsson, Patents and licensing https://www.ericsson.com/en/patents accessed 5 January 2024. www.supremoamicus.org PIF 6.242

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