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©	
  Wissenskapital	
  ZFI/ECI	
  GmbH	
  2013	
  
	
  
	
   1	
  
Reflections	
   on	
   how	
   to	
   curb	
   economic	
   growth,	
   social	
   prosperity	
   and	
  
innovation	
  based	
  on	
  Intellectual	
  Capital	
  (IC)	
  and	
  Intellectual	
  Property	
  
(IP).	
  
	
  	
  
In	
   2000	
   the	
   Lisbon	
   agenda	
   agreed	
   on	
   various	
   initiatives	
   to	
   stimulate	
  
economic	
   growth	
   within	
   the	
   European	
   Union	
   member	
   states.	
   The	
   goals	
  
were	
  in	
  2010	
  to	
  have	
  a	
  higher	
  GDP	
  per	
  capita	
  than	
  the	
  US	
  and	
  to	
  become	
  
„the	
  most	
  innovating“	
  region	
  in	
  the	
  world.	
  Various	
  programs	
  were	
  created	
  
to	
  help	
  SME1	
  getting	
  funding	
  for	
  growth	
  and	
  innovation	
  as	
  well	
  as	
  how	
  they	
  
can	
  protect	
  their	
  outcome,	
  one	
  area	
  especially	
  in	
  focus	
  being	
  the	
  IP.	
  These	
  
goals	
  have	
  not	
  been	
  reached.	
  
	
  
Intellectual	
   Capital	
   Statement	
   (or	
   Intangible	
   Assets	
   based	
  
Management)	
  
	
  
Around	
  1.000	
  SME	
  have	
  made	
  an	
  IC	
  Statement	
  (German	
  “Wissensbilanz")	
  in	
  
Germany2	
  as	
  of	
  today,	
  April	
  2013.	
  With	
  the	
  Fraunhofer	
  Academy	
  in	
  Munich,	
  
moderators	
  or	
  consultants	
  are	
  being	
  educated	
  for	
  a	
  fee	
  and	
  some	
  of	
  them	
  
are	
   today	
   successfully	
   working	
   as	
   coaches	
   and	
   IC	
   analysts.	
   With	
   the	
  
“Intellectual	
  Capital	
  –	
  Made	
  in	
  Europe”	
  project,	
  the	
  German	
  „Wissensbilanz“	
  
was	
   implemented	
   in	
   five	
   other	
   European	
   countries3 	
  and	
   developed	
   a	
  
„quick-­‐test	
  on	
  IC“	
  sponsored	
  by	
  the	
  Warsaw	
  Stock	
  Exchange	
  in	
  2008.	
  
	
  
These	
  results	
  may	
  look	
  all	
  right	
  at	
  a	
  glance,	
  but	
  still	
  have	
  not	
  changed	
  the	
  
behaviour	
   on	
   the	
   financial	
   markets	
   and	
   political	
   decisions.	
   Quantitative	
  
factors	
   still	
   play	
   an	
   overwhelming	
   role	
   when	
   it	
   comes	
   to	
   analysing	
  
companies	
  or	
  even	
  states.	
  Today	
  even	
  more	
  focus	
  is	
  placed	
  on	
  short-­‐term	
  
gains	
   and	
   there	
   is	
   reluctance	
   for	
   longer	
   investment	
   horizons.	
   In	
   times	
   of	
  
uncertainty,	
   the	
   financial	
   actors	
   are	
   not	
   prepared	
   to	
   take	
   more	
   risks	
   and	
  
there	
  seems	
  to	
  be	
  a	
  fixed	
  concentration	
  on	
  existing	
  players4,	
  following	
  the	
  
(contra	
  to	
  IC)	
  philosophy	
  of	
  shareholder	
  value.	
  In	
  politics,	
  savings	
  are	
  being	
  
made	
  in	
  education	
  and	
  research,	
  not	
  to	
  mention	
  the	
  withdrawal	
  of	
  the	
  state	
  
in	
   various	
   areas5.	
   This	
   means	
   that	
   local	
   competence	
   in	
   Europe	
   is	
   not	
  
considered	
   as	
   a	
   competitive	
   advantage	
   since	
   most	
   of	
   the	
   investments	
   go	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
1	
  SME	
  –	
  Small	
  and	
  Midsized	
  companies.	
  Usually	
  defined	
  as	
  companies	
  having	
  up	
  to	
  250	
  employees	
  (EU).	
  In	
  
Germany	
  up	
  to	
  400	
  employees.	
  
2	
  www.akwissensbilanz.org	
  and	
  Fraunhofer	
  study	
  2010	
  
3	
  www.incas-­‐europe.org	
  (Poland,	
  Spain,	
  France,	
  Slovenia	
  and	
  Germany)	
  
4	
  Lead	
  by	
  US	
  Private	
  Equity	
  and	
  US	
  Venture	
  Capital	
  	
  
5	
  Since	
  the	
  fall	
  of	
  the	
  iron	
  curtain,	
  there	
  has	
  been	
  a	
  common	
  understanding	
  between	
  academia	
  and	
  politics	
  
that	
  the	
  state	
  should	
  leave	
  as	
  much	
  as	
  possible	
  of	
  strategic	
  decisions	
  to	
  the	
  market.	
  It	
  is	
  also	
  believed,	
  that	
  
the	
  markets	
  are	
  self-­‐regulating.	
  If	
  this	
  would	
  have	
  been	
  the	
  case,	
  there	
  would	
  be	
  no	
  banking	
  crisis	
  and	
  no	
  
horse	
  meat	
  where	
  beef	
  is	
  on	
  the	
  package.	
  	
  
©	
  Wissenskapital	
  ZFI/ECI	
  GmbH	
  2013	
  
	
  
	
   2	
  
into	
  high-­‐tech	
  or	
  internet	
  ventures	
  copying,	
  rather	
  then	
  inventing	
  yourself,	
  
ideas	
   from	
   the	
   US	
   rather	
   than	
   inventing	
   self-­‐made	
   innovation.	
   	
   Also	
   the	
  
funding	
  by	
  the	
  European	
  Commission	
  has	
  been	
  more	
  on	
  copying	
  ideas	
  from	
  
outside	
  Europe	
  and	
  rather	
  then	
  investing	
  in	
  regional	
  core	
  competencies.	
  	
  
	
  
The	
  IC	
  Statement	
  finds	
  and	
  evaluates	
  the	
  key	
  success	
  factors	
  a	
  company	
  or	
  
a	
   region	
   needs	
   to	
   stay	
   competitive	
   through	
   an	
   efficient	
   organisation	
   and	
  
areas	
   where	
   to	
   grow.	
   Innovation	
   is	
   the	
   key	
   factor.	
   However,	
   most	
   of	
  
European	
   SME’s	
   are	
   not	
   aware	
   of	
   the	
   risks	
   and	
   opportunities	
   IP	
   has	
   on	
  
international	
  expansion	
  and	
  to	
  secure	
  the	
  existing	
  business.	
  	
  
	
  
On	
  IC	
  Statement	
  and	
  Management	
  Reporting	
  	
  
	
  
In	
   2009	
   the	
   German	
   Federal	
   Ministry	
   of	
   Economics	
   started	
   a	
   project	
   to	
  
integrate	
  the	
  „Wissensbilanz“	
  into	
  the	
  Management	
  Report.6	
  As	
  a	
  useful	
  tool	
  
for	
   auditors	
   they	
   made	
   SME	
   aware	
   of	
   operational	
   risks	
   covered	
   by	
   the	
  
„Wissensbilanz“.	
   The	
   SME	
   in	
   Germany	
   are	
   sceptical	
   about	
   making	
   this	
   a	
  
legal	
  request	
  for	
  external	
  reporting.	
  They	
  see	
  IC	
  as	
  the	
  basis	
  for	
  reaching	
  
their	
   strategic	
   goals	
   and	
   do	
   not	
   want	
   to	
   report	
   this	
   to	
   their	
   competitors.	
  
However,	
   as	
   a	
   report	
   to	
   improve	
   internal	
   efficiency	
   and	
   to	
   improve	
  
communication	
   to	
   external	
   stakeholder	
   (on	
   a	
   voluntary	
   basis),	
   we	
   can	
  
confirm	
  the	
  same	
  positive	
  response	
  as	
  mentioned	
  under	
  „Wissensbilanz“	
  in	
  
general.	
  However,	
  these	
  checklists7	
  help	
  to	
  improve	
  the	
  communication	
  and	
  
understanding	
  between	
  the	
  auditors,	
  companies	
  and	
  stakeholders.	
  It	
  may	
  
be	
   a	
   base	
   for	
   financial	
   rating	
   more	
   adapted	
   to	
   how	
   we	
   create	
   value	
   in	
  
Europe.	
  
	
  
On	
  Intellectual	
  Property	
  Rights	
  
	
  
The	
  German	
  SME’s	
  generally	
  do	
  not	
  see	
  the	
  protection	
  of	
  their	
  IP	
  as	
  crucial.	
  
They	
   focus	
   more	
   on	
   delivering	
   quality	
   in	
   niches	
   and	
   are	
   reluctant	
   of	
  
communicating	
   more	
   to	
   the	
   outside	
   world	
   than	
   necessary.	
   A	
   problem	
  
occurs	
  to	
  be	
  with	
  patents	
  that	
  the	
  information	
  disclosed	
  becomes	
  a	
  public	
  
document.	
  Since	
  the	
  punishment	
  of	
  breaking	
  international	
  IP	
  rights	
  is	
  low,	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
6	
  Wissensbilanz	
  als	
  Element	
  der	
  Lageberichterstattung	
  „Transferprojekt	
  zur	
  Umsetzung	
  für	
  KMUs“.	
  The	
  
project	
  consists	
  of	
  expert	
  on	
  international	
  accounting	
  standards,	
  IC	
  and	
  leading	
  auditing	
  firms.	
  Deliveriers	
  
end	
  of	
  2012	
  will	
  be	
  a	
  checklist	
  for	
  SME	
  and	
  auditors	
  focusing	
  on	
  financial	
  risks	
  and	
  how	
  IC	
  can	
  reduce	
  this	
  
uncertainty.	
  The	
  „Lagebericht“	
  was	
  introduced	
  1931	
  in	
  Germany	
  in	
  the	
  Weimarer	
  Republik	
  on	
  order	
  to	
  
show	
  the	
  public	
  how	
  state	
  money	
  was	
  invested	
  in	
  firms	
  in	
  the	
  realm	
  of	
  the	
  great	
  depression.	
  
	
  
7	
  www.reporting-­‐immaterieller-­‐werte-­‐und-­‐wissensbilanz.de	
  	
  
	
  
©	
  Wissenskapital	
  ZFI/ECI	
  GmbH	
  2013	
  
	
  
	
   3	
  
some	
   SME	
   actually	
   strategically	
   do	
   not	
   try	
   to	
   protect	
   their	
   assets	
   via	
   IP	
  
rights	
  in	
  order	
  to	
  protect	
  their	
  competitive	
  advantage.	
  
	
  
German	
   SME’s	
   are	
   more	
   focused	
   on	
   using	
   their	
   know-­‐how	
   and	
   technical	
  
skills	
  to	
  create	
  value	
  for	
  their	
  customers.	
  In	
  the	
  global	
  IP	
  business	
  however,	
  
the	
  IP	
  brokers	
  or	
  traders	
  are	
  focusing	
  more	
  an	
  “asset	
  sweating”	
  than	
  on	
  the	
  
creation	
   of	
   assets.	
   Whereas	
   focus	
   within	
   the	
   companies	
   is	
   more	
   on	
   the	
  
processes,	
  the	
  global	
  trend	
  is	
  more	
  on	
  trading	
  existing	
  IP’s	
  to	
  make	
  a	
  short-­‐
term	
   profit.	
   Since	
   this	
   market	
   is	
   being	
   dominated	
   by	
   financially	
   strong	
  
players,	
   the	
   European	
   SME	
   stands	
   a	
   very	
   small	
   chance	
   to	
   protect	
   their	
  
interests	
   globally.	
   This	
   problem	
   has	
   been	
   evident	
   especially	
   in	
   Germany	
  
since	
  China	
  began	
  its	
  export	
  oriented	
  industrial	
  boom	
  and	
  since	
  2010	
  has	
  
removed	
   Germany	
   from	
   its	
   top	
   position	
   as	
   global	
   export	
   champion8.	
   In	
   a	
  
global	
  economic	
  world,	
  the	
  countries	
  with	
  a	
  high	
  value	
  added	
  industry	
  or	
  
service	
   sector	
   are	
   the	
   ones,	
   which	
   have	
   the	
   most	
   to	
   lose	
   if	
   there	
   is	
   no	
  
efficient	
  protection	
  of	
  IP.	
  
	
  
On	
  IC	
  of	
  Cities	
  and	
  Regions	
  
	
  
Most	
  communities	
  in	
  Europe	
  are	
  heavily	
  indebted	
  and	
  perspectives	
  being	
  
gloomy	
   due	
   to	
   negative	
   demographic	
   trends	
   and	
   the	
   economic	
   outlook.	
  
Therefore	
  it	
  is	
  important	
  to	
  define	
  how	
  the	
  triple	
  helix	
  should	
  work.	
  Neither	
  
communities,	
   academia	
   or	
   „Wirtschaft“	
   can	
   work	
   alone.	
   They	
   are	
   all	
  
dependant	
   on	
   one	
   another	
   and	
   this	
   work	
   should	
   be	
   managed	
   and	
  
coordinated.	
  	
  Work	
  has	
  been	
  done	
  on	
  this	
  in	
  Germany9	
  and	
  within	
  the	
  realm	
  
of	
   the	
   Atlantic	
   program10	
  and	
   it	
   appears	
   that	
   the	
   communities	
   should	
  
assume	
  the	
  responsibility	
  to	
  coordinate	
  this	
  strategic	
  issue.	
  The	
  reason	
  is	
  
that	
  academia	
  in	
  Europe	
  hast	
  the	
  reputation	
  of	
  being	
  too	
  far	
  away	
  from	
  SME	
  
needs	
  and	
  have	
  „a	
  life	
  of	
  their	
  own“.	
  The	
  companies	
  are	
  struggling	
  with	
  an	
  
economy	
  in	
  downturn	
  and	
  global	
  acting	
  ones	
  are	
  no	
  longer	
  in	
  the	
  hands	
  of	
  
local	
   families	
   or	
   investors	
   but	
   usually	
   belong	
   to	
   international	
   funds	
   or	
  
investors	
  with	
  few	
  connections	
  to	
  the	
  region.	
  	
  
	
  
A	
  more	
  active	
  state/municipal	
  seems	
  to	
  be	
  the	
  only	
  institution	
  available	
  to	
  
funding	
   SME	
   since	
   the	
   volume	
   (or	
   ROI)	
   and	
   risk	
   of	
   investment	
   is	
   not	
  
attractive	
   enough	
   to	
   the	
   global	
   players.	
   The	
   regional	
   knowledge	
   has	
   also	
  
been	
   heavily	
   reduced	
   in	
   favour	
   of	
   greater	
   financial	
   centres	
   as	
   a	
  
consequence	
  of	
  the	
  sub-­‐prime	
  crisis	
  and	
  dotcom	
  bubble.	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
8	
  Exportweltmeister.	
  Germany	
  has	
  a	
  close	
  run	
  with	
  US	
  being	
  second	
  to	
  China.	
  Japan	
  is	
  clearly	
  on	
  the	
  fourth	
  
place.	
  
9	
  Stadt	
  Kempten	
  and	
  the	
  project	
  under	
  note	
  five.	
  
10	
  www.knowcities.eu	
  	
  
©	
  Wissenskapital	
  ZFI/ECI	
  GmbH	
  2013	
  
	
  
	
   4	
  
	
  
On	
  Economic	
  Policy	
  
	
  
The	
   goals	
   of	
   the	
   European	
   Commission	
   in	
   2000	
   have	
   not	
   been	
   reached.	
  
Europe’s	
  competitors	
  have	
  shown	
  how	
  important	
  the	
  role	
  of	
  state	
  policy	
  is	
  
to	
  curb	
  industry	
  and	
  employment.	
  The	
  US	
  still	
  attracts	
  the	
  „brains“	
  and	
  is	
  
leading	
  in	
  financial	
  services	
  and	
  trade,	
  giving	
  them	
  a	
  dominant	
  position	
  in	
  
investment	
  allocation	
  and	
  funding.	
  China	
  dominates	
  production	
  and	
  has	
  a	
  
clear	
  strategy	
  to	
  curb	
  domestic	
  industry	
  and	
  consumer	
  demand.	
  Together	
  
with	
   Russia,	
   it	
   is	
   clear	
   that	
   the	
   US	
   and	
   China	
   have	
   a	
   clear	
   political	
   and	
  
industrial	
  agenda	
  on	
  how	
  to	
  support	
  their	
  industry	
  to	
  gain	
  market	
  shares	
  
and	
   therefore	
   creating	
   jobs	
   and	
   tax	
   income.	
   These	
   nations	
   very	
   well	
  
understand	
  the	
  necessity	
  to	
  combine	
  research	
  (with	
  a	
  political	
  IP	
  protection	
  
agenda),	
  „Wirtschaft“	
  and	
  politics	
  to	
  achieve	
  a	
  strong	
  position	
  on	
  the	
  global	
  
markets.	
   For	
   Europe,	
   there	
   seems	
   to	
   be	
   no	
   clear	
   strategy11	
  on	
   how	
   to	
  
protect	
   investments	
   in	
   IC,	
   although	
   it	
   is	
   necessary	
   if	
   Europe	
   wants	
   to	
  
maintain	
   its	
   high	
   living	
   standard.	
   In	
   the	
   next	
   phase	
   of	
   European	
   funding	
  
until	
  2020,	
  focus	
  should	
  not	
  only	
  be	
  on	
  how	
  to	
  support	
  innovation	
  but	
  also	
  
consider	
   how	
   we	
   can	
   protect	
   the	
   outcome	
   and	
   the	
   consequences	
   IP	
   laws	
  
have	
  on	
  sustainable	
  value	
  creation.	
  
	
  
Conclusion	
  
	
  
Europe	
   is	
   still	
   world	
   leader	
   when	
   it	
   comes	
   to	
   innovation	
   and	
   top	
   quality	
  
services	
  and	
  products.	
  One	
  important	
  reason	
  behind	
  this	
  is	
  visualized	
  with	
  
the	
  IC	
  Statement.	
  However,	
  these	
  assets	
  need	
  investments	
  and	
  the	
  outcome	
  
should	
  be	
  protected	
  and	
  justly	
  distributed	
  between	
  entrepreneurs,	
  society	
  
and	
   investors.	
   Today	
   the	
   investors	
   clearly	
   have	
   the	
   overhand	
   in	
   a	
   way,	
  
where	
   it	
   is	
   not	
   clear	
   if	
   this	
   is	
   good	
   for	
   the	
   European	
   citizens	
   and	
   future.	
  
Therefore	
  Europe	
  needs	
  to	
  lead	
  the	
  discussion	
  on	
  IC	
  and	
  IP	
  because	
  Europe	
  
is	
  the	
  biggest	
  winner	
  (or	
  loser)	
  in	
  this	
  area.	
  Financial	
  capital	
  does	
  not	
  make	
  
the	
  difference,	
  because	
  it	
  is	
  global	
  and	
  not	
  unique.	
  	
  Thanks	
  to	
  the	
  Lisbon	
  
agenda	
  these	
  matters	
  where	
  taken	
  seriously	
  and	
  a	
  lot	
  has	
  been	
  achieved.	
  
Now	
  is	
  the	
  right	
  time	
  to	
  implement	
  these	
  findings	
  and	
  the	
  lead	
  should	
  be	
  
initiated	
   from	
   the	
   EU	
   member	
   states	
   and	
   stimulate	
   SME	
   to	
   invest	
   in	
   IC,	
  
protect	
  its	
  outcome	
  over	
  IP	
  and	
  make	
  sure	
  that	
  the	
  gains	
  are	
  distributed	
  
also	
  to	
  those	
  who	
  take	
  risk	
  and	
  work	
  for	
  the	
  success	
  of	
  a	
  venture.	
  
	
  
Oberreichenbach	
  April	
  2013/mk	
  
	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
11	
  Or	
  even	
  contrary,	
  regarding	
  the	
  open	
  up	
  of	
  EU	
  market	
  to	
  foreign	
  investors,	
  without	
  reciprocity	
  from	
  
China,	
  Russia	
  or	
  the	
  US.	
  	
  

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2013 presentation tallinn_icip

  • 1. ©  Wissenskapital  ZFI/ECI  GmbH  2013       1   Reflections   on   how   to   curb   economic   growth,   social   prosperity   and   innovation  based  on  Intellectual  Capital  (IC)  and  Intellectual  Property   (IP).       In   2000   the   Lisbon   agenda   agreed   on   various   initiatives   to   stimulate   economic   growth   within   the   European   Union   member   states.   The   goals   were  in  2010  to  have  a  higher  GDP  per  capita  than  the  US  and  to  become   „the  most  innovating“  region  in  the  world.  Various  programs  were  created   to  help  SME1  getting  funding  for  growth  and  innovation  as  well  as  how  they   can  protect  their  outcome,  one  area  especially  in  focus  being  the  IP.  These   goals  have  not  been  reached.     Intellectual   Capital   Statement   (or   Intangible   Assets   based   Management)     Around  1.000  SME  have  made  an  IC  Statement  (German  “Wissensbilanz")  in   Germany2  as  of  today,  April  2013.  With  the  Fraunhofer  Academy  in  Munich,   moderators  or  consultants  are  being  educated  for  a  fee  and  some  of  them   are   today   successfully   working   as   coaches   and   IC   analysts.   With   the   “Intellectual  Capital  –  Made  in  Europe”  project,  the  German  „Wissensbilanz“   was   implemented   in   five   other   European   countries3  and   developed   a   „quick-­‐test  on  IC“  sponsored  by  the  Warsaw  Stock  Exchange  in  2008.     These  results  may  look  all  right  at  a  glance,  but  still  have  not  changed  the   behaviour   on   the   financial   markets   and   political   decisions.   Quantitative   factors   still   play   an   overwhelming   role   when   it   comes   to   analysing   companies  or  even  states.  Today  even  more  focus  is  placed  on  short-­‐term   gains   and   there   is   reluctance   for   longer   investment   horizons.   In   times   of   uncertainty,   the   financial   actors   are   not   prepared   to   take   more   risks   and   there  seems  to  be  a  fixed  concentration  on  existing  players4,  following  the   (contra  to  IC)  philosophy  of  shareholder  value.  In  politics,  savings  are  being   made  in  education  and  research,  not  to  mention  the  withdrawal  of  the  state   in   various   areas5.   This   means   that   local   competence   in   Europe   is   not   considered   as   a   competitive   advantage   since   most   of   the   investments   go                                                                                                                   1  SME  –  Small  and  Midsized  companies.  Usually  defined  as  companies  having  up  to  250  employees  (EU).  In   Germany  up  to  400  employees.   2  www.akwissensbilanz.org  and  Fraunhofer  study  2010   3  www.incas-­‐europe.org  (Poland,  Spain,  France,  Slovenia  and  Germany)   4  Lead  by  US  Private  Equity  and  US  Venture  Capital     5  Since  the  fall  of  the  iron  curtain,  there  has  been  a  common  understanding  between  academia  and  politics   that  the  state  should  leave  as  much  as  possible  of  strategic  decisions  to  the  market.  It  is  also  believed,  that   the  markets  are  self-­‐regulating.  If  this  would  have  been  the  case,  there  would  be  no  banking  crisis  and  no   horse  meat  where  beef  is  on  the  package.    
  • 2. ©  Wissenskapital  ZFI/ECI  GmbH  2013       2   into  high-­‐tech  or  internet  ventures  copying,  rather  then  inventing  yourself,   ideas   from   the   US   rather   than   inventing   self-­‐made   innovation.     Also   the   funding  by  the  European  Commission  has  been  more  on  copying  ideas  from   outside  Europe  and  rather  then  investing  in  regional  core  competencies.       The  IC  Statement  finds  and  evaluates  the  key  success  factors  a  company  or   a   region   needs   to   stay   competitive   through   an   efficient   organisation   and   areas   where   to   grow.   Innovation   is   the   key   factor.   However,   most   of   European   SME’s   are   not   aware   of   the   risks   and   opportunities   IP   has   on   international  expansion  and  to  secure  the  existing  business.       On  IC  Statement  and  Management  Reporting       In   2009   the   German   Federal   Ministry   of   Economics   started   a   project   to   integrate  the  „Wissensbilanz“  into  the  Management  Report.6  As  a  useful  tool   for   auditors   they   made   SME   aware   of   operational   risks   covered   by   the   „Wissensbilanz“.   The   SME   in   Germany   are   sceptical   about   making   this   a   legal  request  for  external  reporting.  They  see  IC  as  the  basis  for  reaching   their   strategic   goals   and   do   not   want   to   report   this   to   their   competitors.   However,   as   a   report   to   improve   internal   efficiency   and   to   improve   communication   to   external   stakeholder   (on   a   voluntary   basis),   we   can   confirm  the  same  positive  response  as  mentioned  under  „Wissensbilanz“  in   general.  However,  these  checklists7  help  to  improve  the  communication  and   understanding  between  the  auditors,  companies  and  stakeholders.  It  may   be   a   base   for   financial   rating   more   adapted   to   how   we   create   value   in   Europe.     On  Intellectual  Property  Rights     The  German  SME’s  generally  do  not  see  the  protection  of  their  IP  as  crucial.   They   focus   more   on   delivering   quality   in   niches   and   are   reluctant   of   communicating   more   to   the   outside   world   than   necessary.   A   problem   occurs  to  be  with  patents  that  the  information  disclosed  becomes  a  public   document.  Since  the  punishment  of  breaking  international  IP  rights  is  low,                                                                                                                   6  Wissensbilanz  als  Element  der  Lageberichterstattung  „Transferprojekt  zur  Umsetzung  für  KMUs“.  The   project  consists  of  expert  on  international  accounting  standards,  IC  and  leading  auditing  firms.  Deliveriers   end  of  2012  will  be  a  checklist  for  SME  and  auditors  focusing  on  financial  risks  and  how  IC  can  reduce  this   uncertainty.  The  „Lagebericht“  was  introduced  1931  in  Germany  in  the  Weimarer  Republik  on  order  to   show  the  public  how  state  money  was  invested  in  firms  in  the  realm  of  the  great  depression.     7  www.reporting-­‐immaterieller-­‐werte-­‐und-­‐wissensbilanz.de      
  • 3. ©  Wissenskapital  ZFI/ECI  GmbH  2013       3   some   SME   actually   strategically   do   not   try   to   protect   their   assets   via   IP   rights  in  order  to  protect  their  competitive  advantage.     German   SME’s   are   more   focused   on   using   their   know-­‐how   and   technical   skills  to  create  value  for  their  customers.  In  the  global  IP  business  however,   the  IP  brokers  or  traders  are  focusing  more  an  “asset  sweating”  than  on  the   creation   of   assets.   Whereas   focus   within   the   companies   is   more   on   the   processes,  the  global  trend  is  more  on  trading  existing  IP’s  to  make  a  short-­‐ term   profit.   Since   this   market   is   being   dominated   by   financially   strong   players,   the   European   SME   stands   a   very   small   chance   to   protect   their   interests   globally.   This   problem   has   been   evident   especially   in   Germany   since  China  began  its  export  oriented  industrial  boom  and  since  2010  has   removed   Germany   from   its   top   position   as   global   export   champion8.   In   a   global  economic  world,  the  countries  with  a  high  value  added  industry  or   service   sector   are   the   ones,   which   have   the   most   to   lose   if   there   is   no   efficient  protection  of  IP.     On  IC  of  Cities  and  Regions     Most  communities  in  Europe  are  heavily  indebted  and  perspectives  being   gloomy   due   to   negative   demographic   trends   and   the   economic   outlook.   Therefore  it  is  important  to  define  how  the  triple  helix  should  work.  Neither   communities,   academia   or   „Wirtschaft“   can   work   alone.   They   are   all   dependant   on   one   another   and   this   work   should   be   managed   and   coordinated.    Work  has  been  done  on  this  in  Germany9  and  within  the  realm   of   the   Atlantic   program10  and   it   appears   that   the   communities   should   assume  the  responsibility  to  coordinate  this  strategic  issue.  The  reason  is   that  academia  in  Europe  hast  the  reputation  of  being  too  far  away  from  SME   needs  and  have  „a  life  of  their  own“.  The  companies  are  struggling  with  an   economy  in  downturn  and  global  acting  ones  are  no  longer  in  the  hands  of   local   families   or   investors   but   usually   belong   to   international   funds   or   investors  with  few  connections  to  the  region.       A  more  active  state/municipal  seems  to  be  the  only  institution  available  to   funding   SME   since   the   volume   (or   ROI)   and   risk   of   investment   is   not   attractive   enough   to   the   global   players.   The   regional   knowledge   has   also   been   heavily   reduced   in   favour   of   greater   financial   centres   as   a   consequence  of  the  sub-­‐prime  crisis  and  dotcom  bubble.                                                                                                                   8  Exportweltmeister.  Germany  has  a  close  run  with  US  being  second  to  China.  Japan  is  clearly  on  the  fourth   place.   9  Stadt  Kempten  and  the  project  under  note  five.   10  www.knowcities.eu    
  • 4. ©  Wissenskapital  ZFI/ECI  GmbH  2013       4     On  Economic  Policy     The   goals   of   the   European   Commission   in   2000   have   not   been   reached.   Europe’s  competitors  have  shown  how  important  the  role  of  state  policy  is   to  curb  industry  and  employment.  The  US  still  attracts  the  „brains“  and  is   leading  in  financial  services  and  trade,  giving  them  a  dominant  position  in   investment  allocation  and  funding.  China  dominates  production  and  has  a   clear  strategy  to  curb  domestic  industry  and  consumer  demand.  Together   with   Russia,   it   is   clear   that   the   US   and   China   have   a   clear   political   and   industrial  agenda  on  how  to  support  their  industry  to  gain  market  shares   and   therefore   creating   jobs   and   tax   income.   These   nations   very   well   understand  the  necessity  to  combine  research  (with  a  political  IP  protection   agenda),  „Wirtschaft“  and  politics  to  achieve  a  strong  position  on  the  global   markets.   For   Europe,   there   seems   to   be   no   clear   strategy11  on   how   to   protect   investments   in   IC,   although   it   is   necessary   if   Europe   wants   to   maintain   its   high   living   standard.   In   the   next   phase   of   European   funding   until  2020,  focus  should  not  only  be  on  how  to  support  innovation  but  also   consider   how   we   can   protect   the   outcome   and   the   consequences   IP   laws   have  on  sustainable  value  creation.     Conclusion     Europe   is   still   world   leader   when   it   comes   to   innovation   and   top   quality   services  and  products.  One  important  reason  behind  this  is  visualized  with   the  IC  Statement.  However,  these  assets  need  investments  and  the  outcome   should  be  protected  and  justly  distributed  between  entrepreneurs,  society   and   investors.   Today   the   investors   clearly   have   the   overhand   in   a   way,   where   it   is   not   clear   if   this   is   good   for   the   European   citizens   and   future.   Therefore  Europe  needs  to  lead  the  discussion  on  IC  and  IP  because  Europe   is  the  biggest  winner  (or  loser)  in  this  area.  Financial  capital  does  not  make   the  difference,  because  it  is  global  and  not  unique.    Thanks  to  the  Lisbon   agenda  these  matters  where  taken  seriously  and  a  lot  has  been  achieved.   Now  is  the  right  time  to  implement  these  findings  and  the  lead  should  be   initiated   from   the   EU   member   states   and   stimulate   SME   to   invest   in   IC,   protect  its  outcome  over  IP  and  make  sure  that  the  gains  are  distributed   also  to  those  who  take  risk  and  work  for  the  success  of  a  venture.     Oberreichenbach  April  2013/mk                                                                                                                   11  Or  even  contrary,  regarding  the  open  up  of  EU  market  to  foreign  investors,  without  reciprocity  from   China,  Russia  or  the  US.