ITM 407 Study Guide - Final Guide: Knowledge Economy, Intellectual Capital, University Of Waterloo
6 Dec 2012
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Document Summary
What is intellectual capital and why is it important in the knowledge economy? (refer to buckman lab) Intellectual capital is the asset of knowledge based economy that is producing significant levels of equity and wealth based on ideas, innovation and creativity. Intellectual property consists of objects: that are not tangible. Another example of non-tangible objects is: software, music, movies, books, ideas, patent. It is important to protect intellectual property because it is some one"s creative work and invention or innovation. It takes a lot of effort to create something original and in order to maintain its originality it must be protected from illegal copying. Also, it is a right that should be given to individuals because a lot of labour was put into creating such creative work. It is important to protect because without protection (trademark, patent) competitors can copy your products.
