Thompson’s research helps businesses get smart about intellectual property

Theft of intellectual property from American-based entrepreneurs and large companies cost the U.S. economy $300 billion a year, according to the Commission on the Theft of American Intellectual Property.

In an effort to help businesses guard their trade secrets, Dr. Mark Thompson, interim dean of James M. Hull College of Business at Augusta University, co-authored a paper describing a methodology to help companies determine the value of their protected material.

“I believe that once trade secrets are identified and valued, businesses can create a culture of compliance and assess the financial consequences if these assets are stolen,” said Thompson. “My colleagues and I believe entrepreneurship is the essence of the American dream and we hope our study sheds light on the importance of businesses understanding the value of their intellectual property.”

In his article “How much are your trade secrets worth? Here’s how to figure it out,” Thompson explains how his four-part process calculates and quantifies the financial impact of intellectual property. Additionally, the research shows the economic and theoretical basis for the methods.

The research has received national attention since receiving Entrepreneurship and Innovation Exchange’s 2015 Schulze Award for its contribution to the practice of entrepreneurship. EIX and the Richard M. Schulze Family Foundation presented Augusta University with a $1,500 scholarship to support entrepreneurship.

“I was honored to work with a great team of researchers from several universities, so for them to recommend the scholarship be given to Augusta University speaks highly of them and our institution,” said Thompson.

Thompson, an economist and educator, has been cited in various national and regional publications. He received a doctoral degree in economics and a bachelor’s degree in business administration from Texas Tech University.

DOWNLOADS: Click here to download a high-resolution image of Dr. Mark Thompson.