Career in IPR Management

Intellectual Property Management, Intellectual Capital Management, Knowledge Management, Intellectual Asset Management,
Innovation management and Intangible Assets Management are the various terms one would come across in a career in the
area of Intellectual Property.

Intellectual assets is the term preferred by IP lawyers and professionals to refer to intellectual property, mainly patents,
trademarks and copyrights. Intellectual capital is the term preferred by proponents of the intellectual capital concept or theory
as the word capital denotes a general pool of resources and/or assets that can be used to create value.

Intellectual property consultants:

• provide advice to organizations in the entertainment, software and other industries on strategies to mine and develop their
  copyright asset base
  
• capitalize an orgnaization’s intellectual property and work towards securing ownership rights and licensing
  
• provide advise and services on licensing of patents and technology transfers
  
• provide patent data search and mining tools
  
• provide services on formulating branding strategies
  
• offer valuation services for ascertaining the level of customer awareness of the brand, the strength of the brand and the value of its equity

The management of knowledge resources could mean intellectual capital management. In service organizations the intellectual
capital management needs are limited to management of information and knowledge resources.

Intellectual Asset Management refers to the business approach where intellectual property is commercial and revenue
generating asset and not just a legal instrument.

Intellectual Property Management refers to much more than the management of the legal processes involved in acquiring and
protecting intellectual property: registration, prosecution, enforcement, and litigation.

Intellectual property management includes incorporate licensing of intellectual property, including technology transfer,
merchandizing, franchising and software lisensing. Legal departments in most major organizations create and administer
programs for the proper use and acquisition of intellectual property. Intellectual property management also includes strategic
planning functions.

Innovation management refers to new practices and tools that boost an organization's innovative ability by creating the right
culture for innovation, encouraging employees' in the generation of new ideas towards developing new products and solutions.

Intangible assets is the term preferred by accountants and accounting standards setting bodies. The bodies include FASB, the
Financial Accounting Standard Board in the US; IASB, International Accounting Standard Board; SEC, the Securities and
Exchange Commission in the US. The term 'intangible assets' is preferred by accountants as it is in clear contrast to the term
‘tangible’ assets referring to physical and financial assets that an organization has.