H. Ward Classen, deputy general counsel for Computer Science Corporation, recently contributed a report to the Daily Record calling for executives to implement plans to find the most value in intellectual property.
While there are a number of ways companies can do this, Classen points to patent licensing as the best example. Companies that obtain patents for new innovations can license them to various companies to profit from any success drawn from it. While some organizations may be hesitant to do so, this process can essentially provide an easy revenue stream to augment those already in place.
IP as a whole is essentially invaluable to a company, according to Classen, who points to Microsoft's recent acquisition of Skype as evidence of IP's true significance.
Some questioned the Redmond, Washington, company's decision at first, due to the $8.5 billion pricetag. However, the news provider notes that Skype has "more than 400 patents pending and the Skype trademark is known worldwide." The potential of these patents to boost Skype's value made the move a simple decision for Microsoft and a potential boon to the company that has struggled to succeed in markets other than those for its usual OS and productivity suites.