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The value and impact of knowledge assets is often contingent on a particular set of circumstances, which will change over time; for example, a unique invention which everyone is licensing today might become obsolete tomorrow. For these reasons it is important to consider from time to time whether you need to continue protecting an asset, or whether it is acceptable to allow the right to lapse. There are costs in keeping rights in force and these should be balanced against ongoing benefit to your organisation. Trusted Research and managing risk in international partnerships the potential benefit to the economy from the exploitation of the asset is not significantly impacted by restrictions to access. For example, this may be the case where the likely market is characterised by a small number of large firms, who can afford to pay to use the asset, and where any savings from unrestricted access would be more likely to be reflected in increased profits rather than cost savings to consumers

While identifying knowledge assets as they are generated is the ideal, many organisations putting in place a knowledge asset management strategy will be doing so for the first time and will have an existing range of knowledge assets. In addition, it is likely that any ongoing processes to capture and record knowledge assets at the time they are generated will have some gaps as knowledge assets can be generated in such a range of circumstances, and value can arise in unexpected places. For this reason, it is good practice when putting in place a new knowledge asset management strategy, and from time to time thereafter, to conduct a review aimed at identifying existing knowledge assets. Note that under the Model Services Contract, IP rights ownership in specially written software will reside in the Crown. Research and development A core principle introduced in the previous chapter is that organisations should have in place an effective knowledge asset management strategy. This strategy can be appropriately tailored to the needs of an organisation. This chapter explains how to develop such a strategy, which could be written up in a separate document or incorporated into existing plans and strategies. Chapter 7 contains more information on this. Why is strategic management of knowledge assets important? When public bodies have assets which are not fully used but are to be retained, it is good practice to consider exploiting the spare capacity to generate a commercial return in the public interest. This is essentially part of good asset management.” An organisation should therefore consider the processes and activities that it undertakes that are likely to give rise to significant knowledge assets. It is not possible to be comprehensive, given the wide range of circumstances under which knowledge assets can arise. However, any work involving the creation or compilation of information is likely to result in the generation of some knowledge assets. Some of the most common routes that will be applicable to many organisations include:the four elements of creating a knowledge asset management strategy: 1) strategic context, 2) approach to knowledge asset management, 3) implementation of strategy, 4) evaluation and review of strategy Armorial bearings such as coats of arms, heraldic badges, State emblems and flags are treated as distinct from trade marks. There is an international registry of such devices which prevents them being registered as trade marks. Maintenance and enforcement of IP rights economic value – making knowledge assets available to help stimulate innovation, competition or development in part of the private sector

As part of this assessment of resource requirements, an organisation should consider what capabilities it requires, and how these will be accessed. For many organisations, the specialist expertise may not be available internally, and so a strategy should consider how that will be accessed from external sources, either inside or outside of the public sector. Chapter 8 provides some further detail on the support that is being established in relation to this guidance. Each organisation should [footnote 1] consider how best to apply the guidance based on the extent of their knowledge asset ownership and should take a proportionate approach.Any valuable knowledge asset is likely to have a range of ways in which it can be exploited. It may well be that when this process is started, there is a single lead option or idea, but a range of options should be developed for further consideration as part of an options appraisal. In line with good practice set out in the Treasury’s Green Book, such appraisal should be set alongside a ‘do nothing’ option. The enthusiasm of senior management is integral to embedding the strategy within an organisation. Senior leaders should champion new behaviours and demonstrate commitment to the new approach and there should be a dedicated senior responsible owner ( SRO) for the knowledge asset management strategy. The degree of formality and seniority with which such a role could be allocated will depend on the type of organisation and the role played by knowledge assets.