Being sensitive to intellectual property

IN THE knowledge economy of the 21st century, intellectual property (IP) has come to be one of the dominant drivers of economic value. In many companies, it drives the commercial viability of their business.

The poor management of IP can easily turn the tide against a company that underestimates its potential and fails to protect and harness IP well. IP is thus fast becoming a fundamental business tool that needs the board's oversight.

Yet, many directors tend to dismiss IP as only about patents, and something for the lawyers to deal with.