In our podcast series, Embracing Disruption, senior IP Analyst Lynne Teo discusses key themes happening in innovation and tech
Knowledge Management - key to growing and sustaining intellectual assets.
Few organisations place significant value on knowledge management and even fewer organisations have a system or process in place that allows them to maximise their ability to identify, collect and exploit knowledge generated within their business.
Glasshouse Advisory’s knowledge management team offers a range of advice and services that assist organisations to understand their current capabilities and to identify and adopt knowledge management best practices for their specific needs.
Specific knowledge management services include:
- Assessment and review of current knowledge management practices and capabilities;
- Review of knowledge management capabilities in terms of ISO 9001(2015);
- Development of knowledge management strategies and policies;
- Development of project specific knowledge management documentation;
- Knowledge management workshops;
- Identification of intangible assets created through knowledge management; and
- Knowledge management valuation.
Our highly skilled team also helps organisations to audit the effectiveness of their current knowledge management systems and provide advice on how to enhance the value of knowledge generated within their business
Knowledge management and intellectual assets
Knowledge management procedures can a have a significant impact on an organisation’s intellectual assets.
Here are a few examples:
- Intellectual assets walking out the door – Some of the most valuable assets of an organisation are the experience and knowledge of its employees- A strong knowledge management system will assist in embedding that knowledge within the organisation;
- Inability to prove ownership of IP – There are many instances where a departing employee takes IP developed within one company and uses in a new company. Without a strong knowledge management system, the ability to prove ownership of IP can be very resource intensive, expensive and with no guarantee of a successful outcome;
- Loss of trade mark rights– Inability to evidence usage of a trade mark can lead to a loss of rights. A strong knowledge management system will help provide evidence of distinctiveness of the trade mark to support its registration and confirm use of the trade mark to resist third party pursuit of cancellation;
- Technical personnel ‘reinventing the wheel’ – Without a process to collate information and evidence as to how specific technical issues are resolved within an organisation, businesses run the risk of using significant resources to solve technical issues that have already been resolved, This inability to access knowledge can be due to the passage of time, loss of technical resources or the geographic spread of the organisation;
- Transfer pricing issues – The transfer of intangibles and knowledge within a multinational group is subject to strict transfer pricing regulations. The inability to identify where knowledge is being transferred between one tax jurisdiction to another opens an organisation up to a transfer pricing review, which can often only be defended by good knowledge management systems; and
- Reduced access to R&D tax incentives – Lack of evidence to support when a problem occurred, when experimental activities were conducted and what were the results of the experimental activities and place significant restrictions on an organisation’s ability to claim Government innovation incentives, such as the R&D tax incentive.
Contact our advisory experts to identify new opportunities for your business