Tools and methods for managing intangible assets of virtual enterprise

With the globalisation of manufacturing industry, some companies have adopted a new business model in which product development is the outcome of active collaboration in virtual enterprises. By participating in a virtual enterprise, companies bring along their core competency and share it with their partners. Competency exists in different forms and is generally referred to as the intangible assets of the company. However, the challenge in a virtual enterprise is how to make best use of these assets to produce profitable outcomes for all members of the virtual enterprise. This paper examines the issues of creating and managing intangible assets in virtual enterprise, and discusses the applicability and adaptability of various tools and methodologies studied and developed in the industry projects to enable seamless operation of the virtual enterprise during these global projects.