With the dawn of the Age of Intellectual Capital, during the mid ’90s, came the realization that the real wealth in the modern enterprise is located in the intangible assets of that enterprise—as opposed to the “traditional (tangible) assets” such as real estate, plant, equipment, inventory, cash and the like.

As the knowledge-based economy expands, the companies and individuals that possess intangible intellectual assets, such as intellectual property, will need specialized expertise, strategic thinking, legal experience, and the wisdom necessary to manage intellectual assets.