I've already stated in previous blogs that the importance of a strategic asset is linked to its ability to generate value. Surely, then, it is imperative that the organisation is able to "appropriate" that value?
Therefore, it follows that success not only depends on the ability to create that value but to be able to appropriate it.
This can be helped through legal means such as property rights, eg copyright or patents. This allows resourceful innovation to generate appropriatable value that cannot be (legally) imitated. If your intangible assets include significant intellectual property, this is valuable capital that you need to protect.
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