Identifying and Unlocking the Hidden IP Assets in Any Business
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This document summarizes a webinar presented by Metis Partners on identifying hidden intellectual property assets in businesses. The webinar discusses why IP assets are often overlooked, examples of commonly overlooked assets like product brands, trade secrets, and data. It also provides case studies of companies that uncovered valuable hidden IP with Metis Partners' help. The webinar teaches attendees to map out their company's IP assets and protect valuable ones to prevent competitors from exploiting them and to increase their worth.
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Identifying and Unlocking the Hidden IP Assets in Any Business
- 1. IP VALUATION: IDENTIFYING & UNLOCKING THE HIDDEN IP ASSETS IN ANY BUSINESS
- 2. PRESENTERS TODAY *Designed by Layerace - Freepik.com JACK GILLESPIE IP Valuation Analyst jack@metispartners.com SAJ ALI IP Valuation Manager saj@metispartners.com © Metis Partners 2017
- 3. RECAP SERVICES Market leaders specialising in valuing IP REACH Headquarters in Glasgow Broad presence in Silicon Valley, CA and London. New Sofia office. TEAM Growing multi- disciplinary team *Designed by Layerace - Freepik.com© Metis Partners 2017
- 4. THIS WEBINAR 2a Common IP assets that are overlooked 1 Why IP assets are often overlooked in a business and the dangers this brings 2b Case studies and examples of hidden IP that we have helped companies identify 3 How to identify hidden IP assets © Metis Partners 2017
- 5. 1 HIDDEN IP ASSETS • Tangible assets are just the “tip of the iceberg” • There are so many IP assets “hidden under the surface” of a company that could be identified and could be valuable © Metis Partners 2017
- 6. 1 THE USB STICK ANALOGY What wouldn’t you want falling into the hands of a competitor? © Metis Partners 2017
- 7. 1 UNAWARE IT CAN BE PROTECTED UNAWARE OF POTENTIAL VALUE REASONS FOR OVERLOOKING IP DAY-TO-DAY EFFECT UNAWARE OF ACTUAL VALUE You work with it everyday, but do you ever think of the value? IP doesn’t have to be formal to be protected You might not be doing anything with your IP, but think of what a competitor could do Think of how critical your IP is to your business. Could you live without your data, trade secrets etc.? © Metis Partners 2017
- 8. 1 • Producer of SpongeBob cartoon, Viacom, left fictional restaurant, Krusty Krab, unprotected • Businessman looked to capitalise by making trade mark application for the name himself and opening restaurant chain • Costly legal proceedings required to resolve A TRADE MARK BATTLE UNDER THE SEA Even SpongeBob has trade mark issues © Metis Partners 2017
- 9. 2 MOST COMMONLY OVERLOOKED IP ASSETS Product Brands Trade Secrets Data © Metis Partners 2017
- 10. 2a PRODUCT BRANDS • Product brands are often spun out into new companies, so get protection early, as this can increase the value/ease the transition • Lack of formal protection can lead to problems later in product life • Formal registration brings many tools to your arsenal – domain names, social media etc. • Don’t make the marketing materials before you protect the product brand © Metis Partners 2017
- 11. 2b • Company specialising in healthcare devices • Separated one product treating a specific condition • Metis Partners helped to sell product brand • Trade mark protection increased value and provided assurances to buyer CASE STUDY Product brand in healthcare © Metis Partners 2017
- 12. 2a TRADE SECRETS • Often overlooked • Can compliment another asset (e.g. patents) • Important for future R&D plans – don’t reveal your plans too early • Get a manager – get a register • Put trade secrets at the core of your company culture © Metis Partners 2017
- 13. 2b • Poultry producer unsure of form of protection they had over a particular bird • Metis Partners identified IP as trade secret as opposed to legal right and produced valuation • Company able to protect IP and increase its monetary value CASE STUDY Duck, Duck, Goose © Metis Partners 2017
- 14. 2a DATA • Constantly used and created but rarely considered when it comes to IP • CRM systems – is yours easily replicable? • Customer lists, pricing information, order history, buying habbits • It’s not all to do with customers; Negative know-how, software testing data are also valuable © Metis Partners 2017
- 15. 2b • UK’s oldest management institute incorporated in 1918 • Metis Partners identified valuable IP assets – student members database, which contained details on partially completed courses • IP assets sold to Industry Qualifications who were able to ensure students picked up where they left off with their studies CASE STUDY The Institute of Administrative Management (IAM) © Metis Partners 2017
- 16. 3 © Metis Partners 2017
- 17. 1 PRODUCT/SERVICE Product Brands Echo, Kindle Critical Relationships Amazon Sellers 2 PURCHASE PROCESS Website & Software Ecommerce Domain Names Amazon.com Copyright Product Information & Images 3 WAREHOUSE/DELIVERY Software Warehouse/Delivery Management Designs Warehouse Floor Plans 4 PRODUCT DEVELOPMENT R&D Technical Data, Negative Know-how Patents Drones Customer Database © Metis Partners 2017 3 IP MAP: AMAZON
- 18. 5 KEY TAKEAWAYS 1 2 3 4 5 Take regular stock of IP owned – put protection in place to safeguard it Link USP with IP and communicate to key stakeholders Implement strategies to manage valuable IP Record and protect IP upon identifying it – don’t wait until problems arise Think about the potential value and uses of IP by third parties © Metis Partners 2017
- 19. THANK YOU! We are available to discuss any of your IP needs in more detail, so please get in touch! Jack Gillespie or Saj Ali 0141 353 3011 jack@metispartners.com saj@metispartners.com NEXT WEBINAR: • Insolvent IP Webinar - Do insolvent brands hold any value? © Metis Partners 2017
Editor's Notes
- Talk briefly about this picture. Say it’s the best summary of the types of IP assets we usually look for in a business. Spend very short amount of time picking out a few assets. Emphasise idea that there are so many IP assets hidden under the surface of a company that could be identified and could be valuable. Show difference between management’s idea and what we uncover/realise in terms of IP (asset maps)
- Quick pic then move on Highlight this is the simplest way to think about what is IP in your business and to get an initial idea without expert advice.
- Generally not considered as actual asset due to intangible nature and misconceptions around value, don’t realise importance until too late i.e. legal issues, IP theft etc. Mention that the only time people think about IP is for exit valuations, but why wait until then!
- Krusty Krab restaurant – didn’t think of trade marking until someone else did! Think of all IP related to Krusty Krab restaurant – domain name, social media, trade mark etc. They may not be doing anything with the Krusty Krab, but it would save them so much time and money in legal fees to seek protection earlier. Also, think about possible use of KK name if they had trade mark – separate promotional website for the show etc. Branded merchandise. Social media promotions. Link to pic: https://stocksnap.io/photo/PX9V0RE4JK
- Idea of turning product into own company Lack of formal protection early on can lead to problems later in life when it comes to trade marking – think of competitors and other coincidental registrations. Think of expansion to marketing tools you would have with formal registrations – domain names, product websites, social media accounts etc. Don’t make the marketing materials before you have the protection! Touch on the costs – trade marks are cheap to get. Think of cost vs risk! Put the TM symbol until you have it protected! Get your social media accounts early. Register it in the company’s name rather than yours. Link to pic: https://stocksnap.io/photo/3IJLXXN9OY
- Metis helped them sell a product brand The company specialised in healthcare devices, particularly breath analysis and separated one product, NOxBOX, which was used for the treatment of a specific condition. Link to pic: https://stocksnap.io/photo/GCF8Y9LWPE
- No one thinks they have these Doesn’t have to be independent, can compliment another asset Often linked to patents Future R&D plans Need to have awareness of TS in business for them to be protected. Get a trade secret manager ASAP! And a register! Put TS legends on documents and define them in staff contracts. Make sure the importance of trade secrets is engrained in your company culture. Link to pics: https://stocksnap.io/photo/D5D3B74933
- Poultry producer knew they had some form of protection related to breeding a particular bird, but didn’t know it’s exact form. They had purchased this IP in the past but didn’t know what form of protection. We identified the IP as a trade secret, as opposed to a legal right to breed Company were now able to properly protect and manage their trade secrets, hence increasing the monetary value and protecting against leakage Valuation of trade secrets was carried out Link to pic: https://stocksnap.io/photo/HMXLZQKNX2
- Always using and creating but never thinking Who has access? Negative know-how Software testing data CRM systems – how hard would yours be to replicate? Customer list/pricing information/order history Link to pic: https://stocksnap.io/photo/IMZP3JUC0G
- The Institute of Administrative Management (IAM), was the UK’s oldest management institute and was incorporated in 1918. Metis Partners identified the following valuable IP assets: rights in qualifications (including qualification specifications, study guides, handbooks and exam scripts); the IAM brand; its website and domain and student member databases. The IAM IP assets were sold to Industry Qualifications, a regulated awarding organisation, which ensured 7,000 students who were in the process of studying when IAM entered Liquidation to finish their courses. Link to pic: https://stocksnap.io/photo/NVJ4Q1I7K0
- POLL TO GO HERE
- Carry out regular inventories to take stock of what IP you have and what protections you have in place to safeguard it, as IP is always being created More often than not, we find that a company's USPs are underpinned by its IP, make sure you make the link and can communicate this to key stakeholders Think about what you wouldn’t want falling into the hands of a competitor (USB stick analogy) as this is often valuable IP – implement IP protection strategies to prevent this Be sure to record and protect your IP as soon as you identify it – do not wait until problems arise! Avoid falling into the trap of thinking of IP as an inconvenience – always think about the potential value and uses
- Carry out regular inventories to take stock of what IP you have and what protections you have in place to safeguard it, as IP is always being created More often than not, we find that a company's USPs are underpinned by its IP, make sure you make the link and can communicate this to key stakeholders Think about what you wouldn’t want falling into the hands of a competitor (USB stick analogy) as this is often valuable IP – implement IP protection strategies to prevent this Be sure to record and protect your IP as soon as you identify it – do not wait until problems arise! Avoid falling into the trap of thinking of IP as an inconvenience – always think about the potential value and uses
- If there are topics that you wish to know about, let us know – email, give us a call! Any questions just now?