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INTRODUCTION: THE EDISON PROPHECY > THE VALUE HIERARCHY

THE VALUE HIERARCHY

The Value Hierarchy comes from our study of and work with many companies around the world. From that work we have developed an appreciation for the best practices in the management of intellectual assets, especially intellectual property, and how those practices yield results that affect both profits and shareholder value. The collective learnings of these companies are the foundation for the best practices of this book. But just a raw list of best practices is relatively difficult for companies to integrate into their existing processes and decision systems. And so the Value Hierarchy was born.

Think of the Value Hierarchy as a pyramid with five levels. Each level represents a different expectation that the company has about the contribution that its IP/IA function should be making to the corporate goals. Each higher level on the pyramid represents the increasing demands placed upon the IP function by the executive team and the board of directors. Like building blocks, each higher level relies on the foundation of the lower levels. Mastery of the practices, characteristics, and activities of the prior levels builds the foundation for greater increases in shareholder value. The more one builds on intellectual property on Level One, the better one is able to enhance the value of all intellectual assets—and more broadly, intellectua....


  

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