Technoprenuership1 30 the business is like. Reputation is a fragile asset the work of years to build an image of quality and reliability can be destroyed in minutes through shoddy or variable products or services.
c) Employees Employees area critical element in the success of company.
Their skills, experience, and way of doing business will directly or indirectly impact on the satisfaction of customers. In part,
this will be intangible, relying on individual expertise and motivation.
d) Intellectual property (covered under product protection) e) Customers Customers are perhaps the most tangible of the intangible assets of a firm they can be observed and are often organized into a mailing list or appear in a schedule of debtors. What is intangible is their loyalty
and commitment to the business, especially if it changes ownership.
PRODUCT PROTECTION PATENTS, TRADEMARKS AND COPYRIGHTS PATENTS A patent is a grant of a property right by the government to an inventor. All patents have the distinction of being assets with commercial value because they provide exclusive rights of ownership to patent holders, their heirs and assigns. (An assign is anyone who might be assigned ownership or rights through sale or license of a patent) Patents are exclusive property
rights that can be sold, transferred, willed, licensed or sold as collateral much like other valuable assets. In fact most independent inventors do not commercialise their inventions or create new products from their ideas. Instead they sell or license their patents to others who have the resources to develop products and commercial markets. Something can be patented if
it is new and useful process, machine, manufacture or composition of matter or any new and useful improvements thereof.
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