Intellectual property management professionals are tasked with protecting, leveraging, and commercializing the great ideas and inventions of their organizations. The ability to monetize and gain competitive advantage from these new ideas relies heavily on the IP team, yet some of the fundamentals tend to get lost.
Intellectual property (IP) management solutions are a valuable tool for any company because they allow for organization of IP assets and visibility into which assets can be used most impactfully for the business. For that reason, in an ideal world, every company would have an IP management solution. However, for companies who are rapidly scaling, it may be more difficult to allocate capital to investing in such a solution, despite their many benefits. So how can these organizations tell when an IP management solution becomes a necessity?
If your organization has decided to implement an innovation strategy, the most crucial component to plan for is how you will measure and benchmark the strategy’s success. Benchmarking is important because it let’s you measure your performance and analyze trends to enable continuous learning and improvement. This learning can help nurture and improve the innovation culture in your organization.
If you’re considering implementing an intellectual property (IP) management system, there are a few options available to you. You could either work with your in-house IT team to develop the system from scratch, or you can purchase a pre-built, out-of-the-box solution. In most cases, the latter is the better choice since it is easier to implement and allows more flexibility for scaling organizations. Pre-built solutions provide a host of other benefits:
Creating a strategy for your organization’s intellectual property can be critical for both emerging and mature companies alike. Above all else, a patent strategy can create scope for an organization. Similar to what a business plan provides for the company as a whole, a patent strategy provides a “bigger picture” view for what the patent looks like now and perhaps more importantly, what it will look like in the future. This view enables the organization to leverage the patent continuously and create sustainable competitive advantage. Additionally, for emerging companies, a well-thought out patent strategy can be a signal of commitment to investors or stakeholders.
For new inventors or scaling companies, the patent application process can be tricky and weighing the filing options can be even harder. On one hand, filing with an intellectual property lawyer can make the process much easier, but on the other hand, the attorney fees associated with filing patents can be daunting. How do you decide which is the better option?
One of the most critical parts of becoming a successfully innovative company, is hiring the right employees to innovate. Though in today’s competitive job marketplace, startups and established organizations alike are competing to employ the next great minds and it can be difficult to compete for the best candidates. In this situation, what’s the best way to hire for innovation at your organization?
It is somewhat hard to believe given the influx of high-definition touchscreens today, but there was in fact a time when the world was void of any digital screens. Nevermind high-definition, plasma or fiber optics, much less handhelds, touchscreens and flexible screens. The digital screen may actually be one of the greatest contributors to human technology advancement, as without screens we wouldn’t have had the personal computer movement, the mobile revolution, e-readers, modern health care delivery systems, handheld gaming devices, and much more. The impact that screens have had on media, communications, transportation, entertainment, and education, among other areas, is truly remarkable.