Social Ideation News & Analysis
| Tuesday Jun 3, 2014
Knowledge-based companies have been driving much of the economy, especially in the United States and Europe. Information technology, media, biotech and pharmaceutical, financial services companies and many more are based on the ability to generate good ideas, turn them into technology and, eventually, products. The “business” of these companies is intellectual property (IP) -- basically an idea that has value. Even companies that don’t make money directly on IP have to worry about it.
IP is not only a product idea. It may also be a better way of doing business, a price model that offers a competitive advantage, or a way to achieve operational efficiencies.