VERY FIRST STEP TO REALIZE VALUE FROM YOUR IP
If you’re not in pyramid than it is easy for you to destroy your value. This means you’re not using your IP as defensive, revenue generation, cost avoidance or strategic positioning which are all different sets of business value. (For further information regarding value hierarchy pyramid you can check my previous post.)
Let’s assume that you’re interested in taking necessary steps to move yourself to first level, which is Defend Position. In this level, it’s all about protecting your business adequately. Protecting means to identify what you have as a legal force and ready to enforce it to take the market advantage. Of course, it’s not easy and cheap to enforce your rights. Patent litigation in Europe costs so high that most of the companies neglect the litigation option. For example, attorney fee in regular cases can be cost 50k – 70k Euros to in some cases 300k – 500k Euros. So you need to be careful in creating your process to facilitate patent generation while you need to think twice while creating processes for enforcing patents.
It’s obvious that you need lots of different skills in order to build IP awareness in your company. Project and change management is the two major tools you need to integrate in your team. The success is strongly depends on how you positioned your key players to effect change in the company.
Change always comes with the leader. You must involve the right person to spearhead the new structure’s creation.
First step for the IP leader is to identify early efforts and lessons learned in order not to repeat same mistakes. Next, you need to take the stock of what you own as an audit list.
In this level, trainings for creation of IP awareness and how to link IP with business goals are the most important point. Each employee should have an idea on what is an IP, what can be patented, how can be used as a business asset. And, it’s your job to foster the one that going to used the power.
To do so, three important steps need to be taken as a pre-work,
• Develop process for IP creation
• Put ground rules and metrics
• Choose best method for ranking
• Determine decision criteria
Now, we have stock of IP, rules and trained employees. And, it is time for you to manage capabilities to facilitate patent generation and maintenance.
The last step is to determine how to show your IP stick to your competitors. Without realising what it is and how much it is worth, you can only put cash on the table in negotiations. Beside that, It is not possible to sue all possible infringers. Thus, you need to find a way to enforce your IP defensively to send a message that you cover company’s all innovations and ready to use your rights when it&&&'39;39;39;s necessary.