ITM 407 Chapter : Week 10 Intangible Assets.docx

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Sveiby article- nokia: describe the three types of intangible assets: individual competence, internal structures and external structures. Internal structure: patents, concepts, models, created by employees, owned by the company. External structure: relationships with customers and suppliers, brand names, trademarks, reputation, element of uncertainty, legal property. Individual competence: people"s ability to act in particular situations, skill, education, experiences, values, social skills, give examples of each of these that are of value to buckman in his business at buckmans labs. External structures: good reputation as a knowledgeable company. Be up to date in technology processes to protect assets. I think that buckman should pay a license fee for the technology. He would be able to switch over when new technology becomes available which would be often. I do believe buckman should be able to change this software. Buckman has strong ideas to make software better.

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