Valorising Innovation Capacity

Submitted by Administrator on 9 February, 2010 - 10:35

Sep 26 2005

Event Date:

26 September, 2005 - 02:00 - 28 September, 2005 - 02:00

Venue:

Hotel President World Trade Centre, Blvd du Roi Albert II, Brussels

The European Union is facing a paradigm shift from a traditional industry driven economy to the new knowledge based economy. This is impacting on every facet of life and requires a radical transformation of Europe?s economy and society. In the knowledge economy skills, market and technical knowledge, networks, business relationships, are important drivers for a companies'' ability to innovate and gain competitive advantage.

Traditional physic assets such as manufacturing plants, machinery, inventory are no longer the key assets in the knowledge economy and considerable emphasis is placed upon the creation and safeguarding of intellectual property rights (IPR) such as copyright, patents, trade marks, design rights and other "soft" factors such as competencies, innovation management skills, know-how, networks. These assets do not have a physical substance and are therefore defined as intangibles.

IP but also a companies'' capability to manage the innovation process are key aspects of the "intangible value" of a company, but the main challenge is how to measure and value these intangible assets. A number of studies have been undertaken by the Commission to explore this issue of valuating intangibles and seeking to offer companies some reference on the most appropriate ways to prepare intellectual capital statements .

This Trend Chart workshop contributes to this process and explores how the Commission could stimulate the development of guidelines for valuating intangibles and to what extent public support instruments can be used to valorise the innovation capacity of the firm. Two issues will be discussed in more detail during the workshop.

Firstly valuation and valorisation of IPR so companies can have better access to external finance (e.g. patent based financing).

Secondly, valuation of companies'' innovation management capabilities and techniques applied to turn ideas into products and services. This is an important prerequisite to translate IP assets into commercial success, but for external investors it is difficult to assess to what extent a company masters these capabilities. During the workshop it is explored how Innovation Management Certification as a self-assessment tool can be used to improve a companies'' innovation potential and to use as a quality label for investors.

Valorising Innovation Capacity

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