How can a strategic IP plan guide profitable investments?
Type of Company: Fortune 500
Company's IP Issues
The Company wanted to generate new revenue. It needed our help to develop an IP strategy that would support efforts to out-license its patents to third parties.
We began the process by generating an internal inventory of the Company's
IP (ipScan®), to identify existing IP and determine how it was being used
in the business.
Through the analysis, it became clear to the Company that its existing patents did not hold significant out-licensing value. Its real strength was in its know-how; unfortunately, its know-how was not well-defined.
We worked with senior management to create a strategic map of the Company's know-how and current IP. This map provided a focused representation of intangibles. The map also confirmed that the Company's IP was not licensable, and that the original goal of trying to generate new revenue from licensing to third parties was not likely to be accomplished.
Therefore, we developed a strategy (ipStrategy®) that:
- Identified the Company's valuable know-how;
- Allowed the Company to understand its IP position;
- Discovered the Company's valuable IP;
- Determined how the Company's IP related to its business; and
- Established how the Company's IP supported or didn't support
its competitive posture.
Benefit From ipCG Services
- We helped the Company redirect its IP investment to areas that maximized IP value.
- Our strategy map helped the Company understand its IP position. It is now able to articulate the value of its IP, align its IP with overall business goals, and leverage its IP to create a competitive advantage. In addition, by only filing those patents that were deemed valuable, the Company saved time and money.
- Equipped with its new knowledge, the Company knows where its IP can be used to drive profitability and where it should invest in IP in the future.