Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2, 2015 erstellt
Description:
The new challenge before today's CEOs and executives is to realize that intellectual property (patents, trademarks and copyrights) are not only legal matters but also corporate finance matters. They are the assets that enhance corporate value and offer the company a new competitive advantage. The proper exploitation and measurement of intellectual property or intangibles, gives strategic and financial benefits to the underlying organization. In this paper, first the concept of intellectual property is defined and analysed based on the existing literature from a legal point of view.Second, the relationship between a firm's intangible assets with its liquidity, and market value is examined, for a sample of non financial companies listed in the Warsaw Stock Exchange (WSE) in Poland, a transition economy that has become a member of the European Union. The empirical results indicate a negative relation between a firm's intangibles and its liquidity as measured by the cash conversion cycle and a positive relation between a firm's intangibles and its market value