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Such protection is often expensive so budgets must be considered and market potential for the products assessed.

In the end you could well end up with the following groups being involved in any decision: inventors; lawyers; accountants; the marketing department; and corporate management.

It will have to train staff so that they are able to identify valuable IP.

This is often a useful exercise as many people who arrive from educational institutions often wish to publish everything as soon as possible.

Once protected, the costs expended must be recovered.

Whilst there have been some notable examples of companies that have developed sophisticated structures to maximise income from their intellectual capital, there are also many who have yet to make that leap.The massive increase in international business resultant from the information revolution, at the same time, has led to a blurring of geographical boundaries.For example, the main stock exchanges attract capital investment from across the globe.The effort to harmonise intellectual property protection across the world (through GATT-TRIPS etc) indicates its importance to the global economy.

IPRs are now a key element in the generation of wealth and the continuing development of the world economy.

Assets can be valued due to the income stream that accruse for the benefit of the IP holding company (accounting standards have yet to allow the valuation of IP so this is the only permissible way of achieving this).