Insight Exchanges from the Licensing Executives Society
October 25 through 28, 2015, New York City: The Licensing Executives Society (U.S.A & Canada), Inc. welcomed nearly 1,000 participants to its annual meeting. As a sponsor, IP.com was honored to be amidst the world’s brightest licensing and intellectual property minds from the corporate, legal, and university arenas. The theme of the meeting was Big Money, Big Data, and Big Ideas, and IP.com was eager to share ideas with all the players.
Representing IP.com at the discussions were Joseph Barone, Vice President of University Solutions, and Jeff McCormack, Managing Director of Advisor IP.com. The team returned with several insights from both industry and science contributors about how to not only survive, but also grow in a competitive global marketplace. Common threads are understanding the climate and smart IP strategy.
As you move your business further into the 21st century, keep in mind*:
- When you are pitching to potential backers, asking for funding, keep your presentation simple. Have a real conversation with your audience. Loading your content with technological terms and complicated descriptions does not necessarily add substance to your presentation, and does not guarantee investment. — Sang Ahn, Samsung Electronics
- The definition of Big Data and Big Data Analytics is often interpretive and varies among individuals. Everyone can agree, however, that Big Data is comprised of sets that are too large and complex to efficiently and effectively analyze with common methods. Better tools and strategies are needed for digging in and making sense of it all. — Duance Valz, Senior Patent Counsel for Strategic IP Initiatives, Google
- Big Data is only going to get bigger. For example, one personal health device project alone – the Experimental Man Project – produces more than 10 terabytes of data from one “body.” The next challenge is implementing an effective real time analysis method for this volume of information. — David Ewing Duncan, CEO, and bestselling author of ARC Programs.
- As the world’s population is rapidly increasing thanks to advanced health care solutions and an increase in the average life expectancy, the importance of clinical trial data collection is also increasing. Better methods are needed to translate and accelerate discoveries into development. — Bryan Spiel man, EVP, Medidata
- Investors are willing to support discovery and advancement in Biopharma, but only as long as they can see forward progression. A Big Pharma that commits significant money early is not afraid to pull that money if a project is not hitting its milestones. — Mark Edwards, Managing Director, Bioscience Advisors
This is all valuable, actionable advice. Big Money, Big Data, and Big Ideas are out there. The key is to know how and when to harness these assets. Then, use the right tools to mine for nuggets to store in your IP portfolio and later forge into components of your IP strategy. Be aware, be smart.
The LES 2015 Annual Meeting reinforced Barone’s and McCormack’s confidence that InnovationQ, IP.com’s solution which integrates powerful semantic and cognitive analysis, is the right tool to put to this task.
*Statements are paraphrased.
IP.com, founded in the year 2000 has over 250 Global Customers and is an Intellectual Property Software and Solutions company. For more information on how we can provide an end-to-end solution to your innovations, please contact Joseph Barone and firstname.lastname@example.org.