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Proceedings of the 3rd European Conference on Intellectual Capital

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Exclusive use <str<strong>on</strong>g>of</str<strong>on</strong>g> Land Property<br />

C<strong>on</strong>tracts with <str<strong>on</strong>g>the</str<strong>on</strong>g> Employers<br />

Envir<strong>on</strong>mental Rights-Air polluting<br />

Recipes<br />

Franchise<br />

Joint Ventures<br />

Emmanouil Gkinoglou<br />

Know How in producti<strong>on</strong>, organizati<strong>on</strong>, technology etc.<br />

C<strong>on</strong>tract Management<br />

Natural Resources<br />

Patents<br />

Exclusive use <str<strong>on</strong>g>of</str<strong>on</strong>g> Computer S<str<strong>on</strong>g>of</str<strong>on</strong>g>tware<br />

Agreements<br />

Schemes<br />

Suppliers Agreements- c<strong>on</strong>tracts<br />

Well trained employees or team – workers<br />

All <str<strong>on</strong>g>the</str<strong>on</strong>g> above, are <strong>on</strong>ly some <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> Intangibles that a company holds. There are more types <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

Intangibles, depending <strong>on</strong> <str<strong>on</strong>g>the</str<strong>on</strong>g> firm, <str<strong>on</strong>g>the</str<strong>on</strong>g> company and <str<strong>on</strong>g>the</str<strong>on</strong>g> product. There are not all kinds <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

<strong>Intellectual</strong> <strong>Capital</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> above list in each company. For example, <str<strong>on</strong>g>the</str<strong>on</strong>g> main <strong>Capital</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> a sports club,<br />

a football or a basketball team that aims at <str<strong>on</strong>g>the</str<strong>on</strong>g> victory and <str<strong>on</strong>g>the</str<strong>on</strong>g> champi<strong>on</strong>ship <str<strong>on</strong>g>of</str<strong>on</strong>g> league are <str<strong>on</strong>g>the</str<strong>on</strong>g><br />

players, <str<strong>on</strong>g>the</str<strong>on</strong>g> entire team, <str<strong>on</strong>g>the</str<strong>on</strong>g> captain, <str<strong>on</strong>g>the</str<strong>on</strong>g> coach, <str<strong>on</strong>g>the</str<strong>on</strong>g> training team and <str<strong>on</strong>g>the</str<strong>on</strong>g> fans too. All <str<strong>on</strong>g>the</str<strong>on</strong>g>se kinds <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

Assets, without doubt are Assets for <str<strong>on</strong>g>the</str<strong>on</strong>g> Club, but <str<strong>on</strong>g>the</str<strong>on</strong>g>y aren‟t menti<strong>on</strong>ed in <str<strong>on</strong>g>the</str<strong>on</strong>g> above list.<br />

But trying to define <str<strong>on</strong>g>the</str<strong>on</strong>g> undefined, are we still trying to measure something that does not exist? How<br />

exactly <str<strong>on</strong>g>the</str<strong>on</strong>g> immeasurable is measured?<br />

8. Tools for measurement – <str<strong>on</strong>g>the</str<strong>on</strong>g> intangibles worldwide<br />

Many tools for <str<strong>on</strong>g>the</str<strong>on</strong>g> evaluati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> this type <str<strong>on</strong>g>of</str<strong>on</strong>g> company‟s property are developed. One <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> most<br />

important inquiring programs, in <str<strong>on</strong>g>the</str<strong>on</strong>g> field <str<strong>on</strong>g>of</str<strong>on</strong>g> intangibles, in which are reported and supported a lot <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

later researchers <str<strong>on</strong>g>the</str<strong>on</strong>g>mselves, c<strong>on</strong>stitutes <str<strong>on</strong>g>the</str<strong>on</strong>g> MERITUM Project (2003). The acr<strong>on</strong>ym <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> name <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

this program is related to <str<strong>on</strong>g>the</str<strong>on</strong>g> measurement <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> intangible, in order to be comprehended and get<br />

improved by <str<strong>on</strong>g>the</str<strong>on</strong>g> administrati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> innovati<strong>on</strong> (Measuring Intangibles <str<strong>on</strong>g>the</str<strong>on</strong>g> Understand and Improve<br />

Innovati<strong>on</strong> Management). With <str<strong>on</strong>g>the</str<strong>on</strong>g> cooperati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> six <str<strong>on</strong>g>European</str<strong>on</strong>g> countries (France, Finland, Denmark,<br />

Norway, Spain, Sweden) <str<strong>on</strong>g>the</str<strong>on</strong>g> project began in November <str<strong>on</strong>g>of</str<strong>on</strong>g> 1998 and had been c<strong>on</strong>tinued for 30<br />

m<strong>on</strong>ths.<br />

The objective <str<strong>on</strong>g>of</str<strong>on</strong>g> this particular program, which was financed by <str<strong>on</strong>g>the</str<strong>on</strong>g> <str<strong>on</strong>g>European</str<strong>on</strong>g> Committee, was to<br />

place limits for <str<strong>on</strong>g>the</str<strong>on</strong>g> measurement <str<strong>on</strong>g>of</str<strong>on</strong>g> this property and to help and improve <str<strong>on</strong>g>the</str<strong>on</strong>g> decisi<strong>on</strong>-makings for<br />

<str<strong>on</strong>g>the</str<strong>on</strong>g> Management. More analytically, <str<strong>on</strong>g>the</str<strong>on</strong>g> five objectives <str<strong>on</strong>g>of</str<strong>on</strong>g> specific program were to create a form for<br />

categorisati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> intangibles, a recorded system for management and c<strong>on</strong>trol, <str<strong>on</strong>g>European</str<strong>on</strong>g> practices in<br />

<str<strong>on</strong>g>the</str<strong>on</strong>g> measurement <str<strong>on</strong>g>of</str<strong>on</strong>g> intangible assets and <str<strong>on</strong>g>the</str<strong>on</strong>g> determinati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> c<strong>on</strong>tributi<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> <strong>Intellectual</strong> Property in<br />

<str<strong>on</strong>g>the</str<strong>on</strong>g> operati<strong>on</strong> <str<strong>on</strong>g>of</str<strong>on</strong>g> capital markets as a result <str<strong>on</strong>g>of</str<strong>on</strong>g> market‟s data analysis and enter limits in <str<strong>on</strong>g>the</str<strong>on</strong>g><br />

measurement and <str<strong>on</strong>g>the</str<strong>on</strong>g> appearance <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g>se intangible in <str<strong>on</strong>g>the</str<strong>on</strong>g> financial statements <str<strong>on</strong>g>of</str<strong>on</strong>g> enterprise.<br />

The specific inquiring program categorizes <str<strong>on</strong>g>the</str<strong>on</strong>g> Intangible Assets to <strong>Intellectual</strong> <strong>Capital</strong> and o<str<strong>on</strong>g>the</str<strong>on</strong>g>r<br />

assets (Intangibles - Intangible Assets). It fixes, <str<strong>on</strong>g>the</str<strong>on</strong>g>refore, as intangible n<strong>on</strong> financing sources, like<br />

future ec<strong>on</strong>omic utilities, without material substance, that are c<strong>on</strong>trolled by <str<strong>on</strong>g>the</str<strong>on</strong>g> enterprise as a result<br />

<str<strong>on</strong>g>of</str<strong>on</strong>g> previous synergies or transacti<strong>on</strong>s and can or cannot be object <str<strong>on</strong>g>of</str<strong>on</strong>g> transacti<strong>on</strong> individually from<br />

o<str<strong>on</strong>g>the</str<strong>on</strong>g>r corporate assets. The <strong>Intellectual</strong> <strong>Capital</strong> includes all <str<strong>on</strong>g>the</str<strong>on</strong>g> types <str<strong>on</strong>g>of</str<strong>on</strong>g> intangibles which bel<strong>on</strong>g or<br />

are used by <str<strong>on</strong>g>the</str<strong>on</strong>g> enterprise, developed <str<strong>on</strong>g>of</str<strong>on</strong>g>ficially or informally. It is something more than total human,<br />

structural dynamic and <str<strong>on</strong>g>the</str<strong>on</strong>g> sources <str<strong>on</strong>g>of</str<strong>on</strong>g> <str<strong>on</strong>g>the</str<strong>on</strong>g> entire enterprise that <str<strong>on</strong>g>the</str<strong>on</strong>g> enterprise uses in order to create<br />

value. According to this program, <str<strong>on</strong>g>the</str<strong>on</strong>g> intangible assets portray <str<strong>on</strong>g>the</str<strong>on</strong>g> total <str<strong>on</strong>g>of</str<strong>on</strong>g> intangible elements <str<strong>on</strong>g>of</str<strong>on</strong>g><br />

intellectual capital, which are recognized as assets, according to <str<strong>on</strong>g>the</str<strong>on</strong>g> accounting models.<br />

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