WOW. GDP is going to be re-calibrated to include Intangible assets. They hadn't been included because, well, they were kinda hard to measure. ? Huh ?
So expenses on a bridge or a factory becomes part of GDP and part of the "capital" of a working economy, but investment in R&D is simply an expense, with no intrinsic value for the future of the economy and economic development.
It is about time that Intangible assets finally get some respect.! Intellectual Property has been the Rodney Dangerfield of assets. Yet they are far more important than anyone in business schools will admit. And more critical than most companies realize (except media like Disney and Big Pharma).
It looks like the book Perpetual Innovation: A(tm): Guide to Strategic Planning, Patent Commercialization, and Enduring Competitive Advantage, Version 2.0. is simply ahead of its time.
Reference
Hall, E. B. & Hinkelman, R. M. (2013). Perpetual Innovation™: A guide to strategic planning, patent commercialization and enduring competitive advantage, Version 2.0. Morrisville, NC: LuLu Press. (Available at the LuLu Press Store for SBP at: http://www.lulu.com/spotlight/SBPlan.)
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