How to Effectively Manage Intangible Assets for Long-Term Business Success

Opinions expressed by Entrepreneur contributors are their own.

Maintaining intangible assets is critical for businesses of any size or industry. From a small business with a few employees to a multinational enterprise, organizations must understand their intangible assets, their value, life cycles, transformations and their potential applications at different stages. Without this knowledge of the underlying assets, businesses would be unable to maintain their assets effectively, leading to waste instead of profit in a timely manner.

This need has become significantly more critical in the digital age, where knowledge-based SMEs are driving economies, and their underlying assets are more intangible than physical. Every day, we hear news about business

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