With the increasing globalization movement that accelerated with the second half of the 20th century, the producers switched from national markets to international markets with the increasingly competitive market and successive customs walls. This situation has left every producer to compete not only with its domestic competitors but also with its international competitors.
Nowadays, production power and capacity are gradually losing their importance, and intellectual rights (i.e. brands, patents and industrial designs related to new technologies), which enable to sell goods and services under better conditions, are becoming more and more important as you can read from https://usa.inquirer.net/56347/everything-you-need-to-know-to-be-a-successful-inventor.
Companies with intellectual property rights for a good or service have the largest share of the cake in the market, while other producers have to be subcontractors working with less profit.
In the first half of the 20th century, tangible assets (eg capital, facilities, machinery and equipment) are on average 80% of the total value of companies and intangible assets (eg, brands, patents protected inventions, designs and know-how etc.) on average 20%. This rate has changed in the opposite direction today. The proportion of intangible assets has increased to 80%.
Now, the biggest assets for companies are not their capital, machinery, land, facilities, but brands, technologies and know-how. Therefore, it has become imperative for companies to manage their intellectual property, which is their most valuable asset, not only as a “registration” but to manage it effectively as explained on https://www.hometownstation.com/santa-clarita-news/use-inventhelp-to-kick-start-your-career-as-an-inventor-today-335441.