LES
WHY STANDARDS?
Standards Membership
Today, in North America and around the world,
innovation is the principle source of differentiated and defensible advantage for operating companies. Innovation is the basis of advantaged products and services, and it drives sales and profits. It is the source of jobs. It is the engine of the economy. Yet the intricacies of the innovation economy are not well-understood by our political, financial, and business leaders.
For example, while intellectual property (IP)
value makes up approximately 70 percent of the equity value of our publicly traded companies, the Generally Accepted Accounting Principles (GAAP)— the standards by which the U.S. Securities and Exchange Commission manages reporting by publicly traded companies — treat the accounting for intangible value almost as an incidental issue.
IP and its value are nearly invisible to most
of our business, financial, and political leaders. They have little if any instruction in it. There is little accounting for it. And very often, no one has business responsibility for its protection and management, outside of the attorneys.
If you or your company owns intellectual property, transfers it to suppliers or business
partners, buys or sells or helps others buy or sell intellectual property, it is in your best interest to join the LES Standards Initiative and help put the mechanics in place that will create a level playing field for fair marketplace competition. It is in your best interest to work with your colleagues to set well-informed, and rational, fair, ethical, and consistent standards around IP management. The adoption of standards will minimize the creation of confusing and contradictory legal and regulatory mandates.
The LES Standards Initiative provides an opportunity to have a real and very significant impact on the future of
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the IP economy here and around the world. You can make a difference. And if you have a stake in the IP industry, this is your opportunity to make sure that your interests are represented as the new industry standards in IP are created.