Importance of management of intellectual property (IP) assets is precondition for driving successful businesses nowadays. IP culture development and IP strategy are part of mainstream management skills and it makes knowledge enhancement an advantage for business growth.
2. Intellectual Property Management
1/ state of play
Assess IP portfolio value, capacity, resources and
opportunities
2/ strategic vision
Set up IP strategy, and measures for effective
implementation and development, incl.
innovation strategy for new technologies
development, IP valuation and commercialization
3/ capacity & motivation
Lead a team of IP professionals
3 key dimensions
3. IP portfolio
set up, manage and develop - practical steps
registering trade marks (in specific goods and services classes)
registering the business name
registering patent (if invention discovered and owned) or
identify opportunities for licensing agreement for use of
relevant patent
acknowledging trade secrets (protected through confidentiality
agreements)
retaining licensable research rights to any developed invention
obtaining freedom to operate for all background intellectual
property owned by collaborating institutions
placing copyright notices on relevant publications,
broadcasting, etc.
active and regular monitoring of potential abuse of intellectual
property rights on the market
set up IP strategy and ensure effective IP management
carry out activities for new technologies development, IP
valuation and commercialization
motivate and develop team with competences related to IP,
relevant IP culture and shared values
4. 1/. Costs approach (based on the cost of developing)
2/. Income approach (future forecasted revenues are
discounted to present value)
3/. Market approach (value of a technology is
determined based on the value of a similar or
comparable technology)
4/. Hybrid approach (combination of the income and
market approaches)
5/. Royalties approach (value of a technology is
calculated based on royalty rates that have been
applied to similar technologies)
Technology valuation -
five principal approaches
5. Specific methods of valuation
1/. Industry Standards Method (search at published royalties and other forms of payment from
technology licenses within an industry category)
2/. Rating/Ranking Method (search at license agreements for similar technologies, comparing
and ranking a technology under consideration against the license agreements with respect to
stage of development, scope of IP protection, market size, profit margins, and other factors)
3/. Thumb Methods (such as the 25% Rule Method, apportions anticipated profits from the
commercial use of the technology between the seller and buyer)
4/. Discounted Cash-Flow Analysis with Risk-Adjusted Hurdle Rates Method (split expected
returns but adjusts basic profit-and-loss accounting terms to account for the timing of
investments and returns and identified possible risks)
5/. Advanced Tools Method (statistical methods, such as Monte Carlo simulations, to
discounted cash-flow models)
6/. Auctions Method (bid on a technology, based on their own independent valuation)
6. Key IP Strategy models
Selected IP Management tools
Patent licenses and technology licensing agreements (for instance, use of patent
under written rights and obligations and fixed payments and royalties)
Co-development agreements and Collaborative Research Agreements (outline the
specific
contributions of different parties who work toward a mutual goals, involving
technology, talent and other resources)
Confidentiality agreements (protect confidential information from disclosure to third
parties. They allow the sharing of confidential information without concern for
misappropriation).
Materials transfer agreements protect samples (tangible property) from
misuse by or unauthorized distribution to third parties.
Patent pools allow for the interchange (cross-licensing) of rights to essential patents
by a number of entities, etc.
1./ Creation of exclusivity – company’s unique products are not allowed to be copied
2./ Defense model – assures protective approach (checked for use by other accuser) to
minimize the opportunity of Infringement of company’s IP rights
7. IP culture
Carrying out trainings/workshops to be attended by the employees from relevant
departments of the company (R&D, lab & testing; quality assurance, marketing legal,
finance)
Ensure that the proper information is circulated on time and facilitating effective
completion of ongoing tasks
Developing environment of shared values, strategic goals awareness, publications, etc.
Pro-active collaboration, awareness of available facilities for R&D and innovation
ecosystem, clusters in innovation, TTOs, hubs, centers of excellence, etc.
Motivating employees to enhance their knowledge and to design and develop innovative
solutions and inventions.
Effective IP management preconditions
Professional competences in intellectual property assets and patent portfolio
value
Knowledge in innovation, commercialization, market trends and demand
Developed innovation capacity, proactive research and invention activities
R&D collaboration and networking
Company culture based on innovation, brand presence and design