The Value of an Idea

An excerpt from "Intangible Assets" by Angela K. Mack

(con't from page 3)

Executors of ideas are generally very practical people who have experience or talent tapping into resources such as money or other valuable resources. Like the adoptive mother, they are able to take the idea and raise it in the most suitable way. Meanwhile, the idea maker does what he/she does best and goes on to create new ideas!

There must be a mutual respect between idea makers and executers of ideas. Without an idea, people can’t execute and without executors, an idea can’t grow to its full potential.

The world that we live in tends to reward the executors of ideas while ignoring the originators of ideas. My argument is that originators need to be valued more and dishonored, taken advantage of, and stolen from less.

Personal Evaluation

Have you ever known someone full of ideas that you benefited from? Would you consider yourself an originator of ideas or an executor of ideas? What have been your traditional thoughts toward each? Which one is more important in your opinion? Do you think that it’s OK to steal an idea because, after all, you are the one who can execute it? Have you given credit to the idea makers of projects you’ve executed? What are your thoughts on stealing an idea? Is it OK or is it wrong?

Quotes for Thought

“If one person furnishes all of the ideas to make an invention and another employs him or furnishes the money for building and testing the invention, should the patent application be filed by them jointly?"

No. The application must be signed by the true inventor, and filed in the Patent and Trademark Office, in the inventor’s name. This is the person who furnishes the ideas, not the employer or the person who furnishes the money.” (2)

“Increasingly, people understand the value of invisible assets in their organizations. It has become the holy grail of the accounting world. The value of an organization can no longer be based on facts and events as before, but needs to take account of intangibles, invisible assets and added value. These are hard to imitate and are powerful sources of sustainable competitive advantage.” (3)

How Much is an Idea Worth?

The way that I see it, the monetary value of an idea is easy to determine. The equation would be this:

compounded assets gained minus
execution costs (materials, labor, marketing, etc…) equals
the value of an idea (to be credited to the idea maker)
or
CAG – EC = VI

© 2007 Angela K. Mack. All rights reserved.

References:
1. http://www.u4.no/document/glossary.cfm
2. http://www.asktheinventors.com/faq.htm
3. http://www.globalexpertbase.com/wp-201-51.html

About the Author | More by Angela Mack
Angela K. Mack is the Marketing Director and a Performing Arts Instructor at the North Shore Academy of the Arts. She enjoys composing music and writing articles and interviews in her spare time at creativeconnectionarts.com. She has spearheaded a revival of Paramount Records with her award-winning music history website. Her passion for spirituality, creativity, the arts, and race relations fuel many of her creative endeavors.

08/21/08