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The new challenge before todayВ’s CEOs and executives is to realize that intellectual property (patents, trademarks, copyrights, etc) are assets that enhance corporate value and offer the company a new competitive advantage. The proper exploitation and measurement of intellectual property or intangibles gives strategic and financial benefits to the underlying organization.The number of patents of the underlying company are used in the literature among other variables as a proxy for intellectual property or innovat...

The innovativeness in a company is part of its intellectual capital and the latter is proxied and measured by the underlying company’s intangible assets. The concept “intellectual capital” contains all the knowledge and experience a company’s employees have, the information and the intellectual property that are combined and create wealth for that company and can be proxied by the value of a company’s intangible assets. After the 1990s the issue of intellectual property has been the focus not only of the re...