If your business depends on intellectual property (IP), then “best practices” for your IP business activities are those that…
…support the business objectives of the company and
…increase company value.
For any high-performing business, there are 4 key building blocks: strategy, processes, resources and organization. Here are these building blocks applied to IP business practices:
- Strategy: Which invention concepts are we free to develop? Which are worth patenting? Can we/should we consider an Engineering-to-Own-the-SpaceSM innovation Strategy? 1
- Processes: Who decides how and where we should invest our development dollars?
- Resources: Can we accelerate our development or broaden our reach by bringing in technologies from the outside? If so, which ones, from where, and for how much?
- Organization: Do our IP development initiatives and outcomes have top management’s attention, understanding, and endorsement?
Adopting high performance IP business practices can enable you to:
…strengthen and even shift the basis of your competition
…protect IP that delivers high value to your customers and end-users
…avoid product and/or technology obsolescence
We at Prakteka LLC developed our IP expertise in the context of numerous and diverse client assignments, all focused on using intellectual property to create and sustain business value. We are here to help you, too, maximize the impact of your IP on business value. For a plan customized to your needs, contact us at https://www.prakteka.com/contact-us/
- For more on the “Engineering-to-Own-the-Space” Innovation Strategy, follow this link to the SlideShare presentation: https://www.slideshare.net/mhastbacka/engineeringtoownthespace-innovation-strategy
Engineering-to-Own-the-Space is a service mark of Prakteka LLC.