During last week’s International Confex 21 in London, the show’s Brand Experience Theatre hosted a discussion under the title ‘Why protect your intangible asset?’. The debate was led by Mark Ford, director of Whitespace XPO and WE Create at Whitespace Group, and explored how for most businesses the most intangible asset is a positive brand identity.
Ford suggested that intangible assets have become the key part of the contemporary economy with reference to a study by Visual Capitalist, an online data publishing site focused on markets, technology, energy and the global economy. The study stated that the percentage of intangible assets making up the S&P 500’s total assets increased from 17% in 1975 to 90% in 2020. This is especially important as the overall value of these assets increased from US$122bn to $21.03tn over the same period.
Within this economy of intangible assets, Ford said that “human asset is the key intangible asset for any organisation – but more importantly, than ever before, so is our ability to make connections. Collaboration, teamwork, and communication spur individuals on to create good things.”
On the connection economy created by this intangible asset, Ford concluded: “the pandemic has done more than just accelerate the connection economy, it forced a complete reorganisation to virtual forums and a refocus on how individuals function within the events industry.”
For further information on International Confex 21, visit here