The paper “ Intellectual Property and Intellectual Capital as a Basis of Competitiveness of the Growing Technology Company” is an impressive variant of the term paper on business. Technology has become part of our day to day routine from our homes and workplaces. Every day poses a new challenge to the inventors and innovators of technology. As each day passes there is an increasing need for better, easier, and affordable technology. However, technology and creativity is a result of the works of the mind. It originated from an idea just like many business ideas and innovations.
Therefore, the ability of the mind is much bigger than one can envision as it will be illustrated in this paper, giving rise to the importance of treasuring these ideas as we incorporate them into the successes of our businesses. The main terminologies we shall use include; intellectual property and intellectual capital. This paper will focus on how intellectual property and intellectual capital have grown to become a competitive factor in businesses. 1.1 Intellectual PropertyIntellectual property is described as a non-physical property which is a creation of the mind.
Intellectual properties include; new inventions, literary and artistic works, unique symbols, brand names, fancy images, designs, and ideas among others. They are divided into two major categories which are; industrial property and copyright. The industrial property covers properties such as; inventions, trademarks, industrial designs among others while copyrights include literary and artistic works (World Intellectual Property Organization, 2013). 1.2 Intellectual CapitalIntellectual capital is defined as knowledge possessed by individuals of an organization that can be used to generate wealth, increase profits, gain new clients, invent and innovate new products and existing products respectively and eventually improve the state of the business venture.
Intellectual capital includes skills and knowledge developed by the company itself during the production of goods and services, knowledge by the employees the company deems critical to the growth and development of the business, and documents which contain crucial information on there; processes, clients, and research which might be valuable to its competitors if they gain access to it (Margaret Rose, 2007).
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