With each New Year comes an opportunity to do things differently than you have in the past and, in return, achieve better results. There is no denying that the global market is becoming more and more competitive. If you are not constantly innovating and adapting your intellectual property (IP) strategy, then you can and will be left behind.
Since the year 2000, IP.com has been helping companies of all sizes with their innovation process. Based on our experience assisting top companies from around the world, we recommend the following IP resolutions for 2016:
- Find an IP partner you trust. A significant number of companies, and often the ones that fail, are those that try to keep their IP strategy as secret as possible. Who succeeds and outperforms their competition? The companies that have a well-balanced strategy incorporating the appropriate mix of patent prosecution and defensive publishing. Top performing companies demonstrate that by defensively publishing their non-core or operational technologies they are better protected from litigation.
- In addition, engaging a trusted advisor to perform an objective review of IP assets can enhance the performance of your internal team. IP.com is available to perform in-depth IP market analysis and landscape studies. These studies are deployed by the world’s most successful companies and form the basis for formulating a balance between the three pillars of IP portfolio management: prosecute, publish, maintain as trade secret. Striking this balance amounts to good corporate governance. A balanced strategy will reduce infringement risk, shield you from Non-Practicing Entities (NPE’s), and strengthen the value of your patent portfolio, while reducing patent prosecution costs. A trusted partner will be objective and non-biased, separate from the internal politics that may exist; therefore, provide a black and white representation of the true IP environment.
- Become a searcher. We learn by doing, and if you are an innovator, then you stand to benefit from using an Advanced Patent and Non-Patent search tool. Forget those old, clunky search tools where you needed to know how to write code in order to use. You can now use IP.com’s, InnovationQ. Start by creating a portfolio of patents or non-patent literature in an area that interests you. Then, let the powerful software do the rest. You may discover partners that you didn’t know existed, suppliers, potential acquisitions, applications you couldn’t have imagined, or knock-out art that causes you to rethink your strategy. If you are relying on other people to perform your searches, you are missing out on valuable competitive intelligence and thought provoking brainstorming sessions. Challenge yourself to devote a few hours a month to dig deep, and you will find something of value.
- Partner with Universities. Universities are a hotbed of activity. It’s incredible to see the amount of quality technology coming out of our schools. When performing as a searcher (as in the above step), you will surely uncover a list of universities that are new to you. In fact, Universities from around the world are uploading licensable technologies directly into IP.com’s InnovationQ software. Let us make the introduction for you. If you are in charge of R&D, why wouldn’t you want to partner with a trusted University to outsource some of that work? Working closely with Universities can also give you access to the top students and interns.
Take one of these resolutions at a time, or forge ahead with all three. IP.com can help you expand your innovation strategy.
By: Joseph Barone
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.