The Gatherer - Volume 9

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. . .Knowledge of any notable IP opportunities may in-turn help to inform or better direct R&D & commercial activities. . .

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M ore and more companies are starting to appreciate that their valuable IP assets can do more for their businesses than just safeguard proprietary technologies. Whether they are helping to maintain a competitive advantage, attract interest and investment for the business, or enabling different income streams to be realised, key IP assets can add value for a business in many different ways. It is no surprise then that business owners and directors are more frequently asking their managers and senior leaders about IP issues and what their organisations could be doing better to manage and safeguard their IP assets. Yet, whilst the importance of IP strategies, IP policies and associated IP management frameworks are more readily being discussed, the actual development and implementation of these valuable tools and materials are often perceived as complicated and involved, and hence can remain as ‘nice to haves’ rather than essential requirements for the business. As a result, it is not uncommon for IP management enhancements to progress quite slowly, if at all, within many organisations.

–– How communications with and costs incurred by IP service providers are managed –– Whether the company has an IP register (or the like) and uses other information management tools to capture key details, due dates and next actions for its formal and informal IP rights –– To what degree IP is considered in regular R&D, engineering, BD and commercial activities –– Whether the company actively uses other (often free) defensive mechanisms to protect its IP assets –– What level of IP awareness exists within different levels of the business. As well as providing an enhanced understanding of an organisation’s IP position and recommendations for bolstering the approach taken towards IP management, working through some or all of the above items can importantly help identify any significant IP risks, and opportunities, that may exist. Any such risks can then be more readily mitigated and hence prevented from developing into more engrained issues which may become more problematic and difficult to resolve in the longer term. Knowledge of any notable IP opportunities may in-turn help to inform or better direct R&D and commercial activities in the near- term such that these can be exploited sooner than later for the benefit of the business.

If this sounds all too familiar, a higher- level IP HealthCheck may prove to be a better starting point and a particularly worthwhile exercise for your business. When done properly, and with appropriate consideration given to certain key IP management principles, specific IP issues requiring more immediate attention together with other notable IP risks for the business can be readily identified and qualified. This can then enable any such issues to be addressed and rectified in the nearer term while longer term more holistic IP management measures can continue to be developed and implemented. Underpinned by an understanding of what the current business strategy is, what role IP can or is intended to play in supporting that strategy, and what an organisation’s current IP position is, a best practice IP HealthCheck may include consideration of any number of the following key IP issues and enquiries: –– Where within the business IP is created and how it is being identified and captured –– What mechanisms, if any, are used to evaluate and protect IP assets –– What knowledge of the ‘IP Landscape’ exists in the company’s industry/technology areas –– Whether designated or default ‘IP Champions’ exist within the business –– Whether any key IP ownership and access issues exist that need to be resolved

Whether your organisation is a manufacturer/supplier, a technology developer, or a service provider that is doing things a bit differently, an IP HealthCheck may be well worth considering to kick-start or help bolster your IP management endeavours. Alternatively, an IP HealthCheck can be used to help understand or evaluate whether the current IP management approach is working for your business. Recognising that IP may often represent the most significant asset for certain organisations, it should obviously be protected and managed just like any other important business asset, and an IP HealthCheck can certainly help clarify whether enough is being done to safeguard that core business asset or not. Wrays’ IP management and strategy specialists have considerable experience in conducting IP HealthChecks across a wide range of business and technology sectors and would welcome the opportunity to discuss what an initial IP HealthCheck may involve for your organisation.

HOW YOUR ORGANISATION COULD BENEFIT FROM AN IP HEALTHCHECK

ALBERT FERRALORO Principal

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