Draft Guidance by HM Treasury (UK): “Embracing innovation is critical to the future of the UK’s economy, society and its place in the world. However, one of the key findings of HM Treasury’s knowledge assets report published at Budget 2018, was that there was little clear strategic guidance on how to realise value from intangibles or knowledge assets such as intellectual property, research & development, and data, which are pivotal for innovation.
This new draft guidance establishes the concept of managing knowledge assets in government and the public sector. It focuses on how to identify, protect and support their exploitation to help maximise the social, economic and financial value they generate.
The guidance provided in this document is intended to advise and support organisations in scope with their knowledge asset management and, in turn, fulfil their responsibilities as set out in MPM. While the guidance clarifies best practice and provides recommendations, these should not be interpreted as additional rules. The draft guidance recommends that organisations:
- develop a strategy for managing their knowledge assets, as part of their wider asset management strategy (a requirement of MPM)
- appoint a Senior Responsible Owner (SRO) for knowledge assets who has clear responsibility for the organisation’s knowledge asset management strategy…(More)“.