A key determinant of success is that policy interventions are usually aimed to bring about lasting change by successfully addressing the causes of market failure so that the market itself can take the initiative forward (and ultimately make the principles mainstream). The following sections consider the emphasis needed to deliver effectiveness. Historically, in the cases where IP and intangibles have been considered, these are the larger ones (in part because of their absolute levels of profit, and in part because of the need to have headroom to absorb the present high transaction costs, as discussed in Part 2). This is potentially at odds with efforts to encourage SMEs to grow, because they will not be able to afford large repayments, especially if the loan tenor is short.