Intangible Economy for Technical Professionals
After attending this course, you will be able to:
- Explain at least four ways intangibles contribute to corporate value and strategy.
- Point out at least five economic, social, and regulatory forces that are driving interest in intangibles
- Summarize the three major categories of intangibles
- Describe at least four ways intangible assets differ from tangible assets and how intangibles challenge conventional economic thinking and traditional business assumptions
- Demonstrate the four-step work plan used by the IRS to estimate the worth of intangible assets and how this process can be used to guide the tracking and valuation of non-physical assets in your operations
This course provides a concise overview of the intangible economy. This refers to investments and assets that do not physically exist but have core and long-term economic value for enterprises. These include data, patents, digital services, technology for computers and cell phones, search engine algorithms, websites, drug formulas, brand reputation, employee expertise, organizational processes, and even the sum of knowledge within the organization. In contrast, tangible assets do physically exist. These include things like buildings, machinery, equipment, and vehicles. In recent years, investment in intangible assets has exploded.
Nonphysical assets increasingly drive the modern economy. You see this in practically every sector, from software research and development to new HR training programs to innovative healthcare treatments. The COVID-19 pandemic has accelerated this shift toward a dematerialized economy -- rich with intellectual property but not the kind you can touch and feel. While intangible assets have grown to huge importance, engineering generally hasn’t kept pace.
The profession still largely focuses on tangible assets and generally discounts intangible investments. Unreported intangibles have led to financial statements having declining utility for executives and investors. As economies recover from the pandemic, executives and regulators worldwide look at the intangible economy with fresh eyes and a new appreciation. New mindsets and reporting standards are evolving. A general consensus is that intangibles must be more tightly integrated into economic growth engineering and corporate decision-making. This presents new opportunities to breathe new life into productivity and unlock more growth potential based on learning, knowledge, and intellectual capital.
The course covers all this and much more. You’ll walk away with a foundational awareness of intangible economy principles. You’ll also discover the different categories of intangibles, how intangibles fundamentally differ from tangible assets, and practical ways you can think about and manage intangibles to drive growth and create a long-term advantage in your operations.
- What is the Intangible Economy?
- The Major Categories of Intangible Assets
- The Growing Importance of Intangible Assets
- How Intangibles Play a Major Role in Improving Productivity and Competitiveness
- What’s Different About Intangible Assets Compared to Tangible Assets?
- How the IRS Valuates Intangible Assets and What Lessons It Offers for Enterprises
- New Strategies for Intangible Asset Measurement and Management
- How to Master the Deployment of Intangible Investment
Who Should Attend
Practitioners who want a basic, non-technical understanding of intangible economy principles, and how to master the deployment of intangible investment in a dynamic era of intellectual property realization, digital transformation, and value dematerialization.REQUEST GROUP TRAINING QUOTE
We currently do not have enough attendee responses to generate a rating for this course.
This course is currently scheduled on the following date. Click to learn even more details about this offering.
Almost all of EPIC's courses offer :
- Continuing Education Units (CEUs) and
- Professional Development Hours (PDHs)
These course credits will help attendees earn training requirements for their associations or provincial governing bodies.
REQUEST A QUOTE
EPIC has many catalogs you can download containing courses in your area!DOWNLOAD NOW