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Management Accounting of Intellectual Creations

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First published by Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3 (1): 103-110.

The paper reflects on current conditions in South Africa, by considering local and international circumstances with regard to intellectual creations. A literature study was done, based on a bibliography which was chosen as a result of experiences whilst attempting to implement business ideas. The paper argues the current system of intellectual property rights is not sufficient to sustain the economy in the long term because creativities are not remunerated sufficiently close to sources to motivate continuous innovations. The argument was formulated by looking at the effects of theology, industrial psychology, law and management accounting on intellectual property rights. The preliminary finding was that currently the system takes advantage of individuals for the benefit of group members, by developing creativities, without sufficient compensation to creative individuals. Because of the problems identified a proposal is made by the paper for a trans-disciplinary research project to culminate at recording of and remuneration for intellectual creations.