PRISM - EUIntangibles | IntangAbility

PRISM - EUIntangibles

This project was funded by the European Commission and the findings published in 2003. The multi disciplinary task force was project managed by IntangAbility.

PRISM stands for: Policy Making, Reporting and Measurement, Intangibles, Skills Development and Management.

Intangibles include areas of value such as knowledge, relationships, reputation and leadership. These types of intangibles are important to all organisations irrespective of size or sector.

Intellectual Property (IP): patents, trademarks, design rights etc.

Intellectual Assets (IA): customer histories, databases, lists etc.

Intellectual Capital (IC): knowledge about clients or prospective clients, knowledge about how to do things, knowledge of technologies, skills, competencies, capabilities, techniques, etc.

“Intangibles can be positive or negative, hence intangible assets or intangible liabilities - for example a good relationship vs. a bad relationship, a correct database vs. an incorrect database, processes which produce quality and reliability vs. processes which produce errors and defects, a good location vs. a bad location.” Tim Hoad

Importance of intangibles: “As intangible assets grow in size and scope, more and more people are questioning whether the true value - and the drivers of that value - are being reflected in a timely manner in publicly available disclosure,” Former SEC Chairman Arthur Levitt