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Intellectual Property Important for Business Success

  Most people know that patents, copyrights, and trade secrets are examples of intangible assets on a company's balance sheet.  But what you may not be aware of is that approximately 80 percent of the value of the Standard & Poor 500 is comprised of these types of assets.  And our next guest says that this doesn't mean that these companies are overvalued as much as it shows how important  innovation and intellectual property are to success in today's increasingly competitive business environment.

Mike Switzer interviews Dirk Brown, director of the Faber Entrepreneurship Center at the University of South Carolina in Columbia, the host organization for their annual Innovation & Intellectual Property Summit coming to Wild Dunes April 19th - 21st.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.