The Wealth of Knowledge : Converting Intellectual

The emerging global trends in intellectual property (IP) commercialization and intellectual property rights (IPR) enforcement and harmonization such as technology globalization, "niching", and licensing strategies, the diffusion of IPR standards and the divergence of IPR enforcement practices, are components of an emerging view of the importance of intellectual capital in corporate and national competitiveness. This paper presents the role of IPR enforcement and harmonization and IP commercialization strategies in a global, intraand interfirm and industry context. IP management is examined from the perspectives of the knowledge management and technology management fields, paradigms which facilitate rather than impede research collaborations in co-opetitive, technology-driven environments. Intellectual property rights (IPR) are shown to be the emerging currency of the global, knowledge-based economy and the intellectual property (IP) audit is a key strategic competitive "weapon" for firms.