The day has come where large innovation labs built by companies may not be needed. Why spend hundreds of millions to billions of dollars on a physical structure, staffed with creative people and equipped with the best tools, when this all can be virtualized? In this context, "Virtualized" does not mean remote workers, but taking the innovation process and virtualizing it with AI tools and specialized, data analytic capability and inventors. These inventors don't even have to have domain knowledge, as experts can be hired by the hour from the crowd.
POSTED BY John Cronin AT 12:46 P.M. Oct 17, 2018TAGS: Innovation | Invention | John Cronin | Strategy | Artificial Intelligence
An enlightened IT director needs to see that AI will be a huge cost savings and quality boost to the organization, and needs to guide the AI app developers, all while maintaining the security and robustness of the existing enterprise software and database. That is a larger skill set than most IT directors may have. But, to thrive in the new world of AI, the IT director should not use the security and robustness of the existing enterprise software and database as a blockade to innovation. The IT director must now play a more innovative role him/herself.
POSTED BY John Cronin AT 11:37 A.M. Oct 9, 2018TAGS: Innovation | John Cronin | Data Security | Artificial Intelligence
There is no question that large artificial intelligence (AI) solutions to solve the numerous efficiency and quality needs in the intellectual property (IP)/intellectual asset management (IAM) space will fail. This has been seen with companies that have tried to bring in a generalized AI engine to solve a specific need. The reason for this is clear now, and becoming clearer every day. AI is coming into our IP/IAM space as an application (app) store type business model.
POSTED BY John Cronin AT 1:32 P.M. Sep 14, 2018TAGS: IAM | Innovation | John Cronin | Process | Strategy
In the previous article, we discussed the recent development of the IP environment in China. Newly strengthened protection of intellectual property rights from the Chinese side indicates lower risk, which will likely encourage foreign investors to enter the Chinese market. On the other hand, there are also incentive programs in the US that support companies in IP-intensive industries on research and development. US companies find themselves holding a strong R&D presence in China due to the size of the Chinese market and the overall strategy to integrate local talents into their R&D operations. The High and New Technology Enterprise (HNTE) program and The Technology Advanced Service Enterprise (TASE) program, funded by the US China Business Council, are perfect examples of programs that promote innovation in US enterprises. With a stronger IP management portfolio, a company can prove itself a contender for innovation and qualify for the HNTE or TASE status.
POSTED BY Yiyi Jin AT 3:39 P.M. August 28, 2018TAGS: Innovation | Regulation and Legislation | Strategy | China | Yiyi Jin | India
With one of the world’s fastest growing economies, China continues to develop its IP environment. As mentioned in the previous article China and the next Great Wall, China has already entered a transitional period away from seeking GDP growth by capital investments and imported technology diffusion toward promoting innovations from within. In this chapter and the upcoming second installment of a two-part article, we will discuss the recent developments in intellectual property rights in China and their efforts in building self-sustaining IP strategies. Further, we will analyze the opportunities and challenges for US firms with an aspect of international business development in this new era of IP development.
POSTED BY Yiyi Jin AT 2:19 P.M. August 14, 2018TAGS: Innovation | Regulation and Legislation | Strategy | China | Mergers and Acquisitions | Yiyi Jin
New technology brings exciting opportunities for early innovators, and potentially disastrous disruptions to the status quo. Blockchain, a growing, publicly-distributed ledger of transaction data and cryptographic hashes that famously enables cryptocurrencies like Bitcoin, Ethereum, LiteCoin and Ripple, may be one such technology.
POSTED BY Seth Cronin AT 12:58 P.M. Aug 8, 2018TAGS: Disruption | Innovation | Seth Cronin | Blockchain
POSTED BY Adam Bulakowski AT 9:53 P.M. July 10, 2018TAGS: Adam Bulakowski | Disruption | Innovation | Regulation and Legislation | Strategy | China
John Cronin, Managing Director and Chairman, and Jacob Rosen, Chief Executive Officer and Matt Osman, Chief Technology Officer of Legit are co-authors of "Artificial Intelligence and the Future of Invention Disclosures". Intro: Artificial Intelligence (AI), when implemented correctly, uses humans’ biggest weakness to its advantage: the management and analysis of huge quantities of data. Confronted with several million documents all containing different information, a legal practitioner's first goal will be to reduce that to a reasonable level. That is often what previous workflow technology has been previously used for, particularly in the legal realm. Document management systems filter by date, author and keywords, RSS feeds show only news stories pertaining to an attorney’s current cases and even the “find” function on PDFs documents help you ignore most of the target document. The performance of these tools does not improve when the amount of data it is tasked with handling increases, in fact in most cases it declines.
POSTED BY John Cronin AT 2:59 P.M. April 6, 2018TAGS: Innovation | John Cronin | Process | Strategy | Artificial Intelligence
Artificial Intelligence is no longer the stuff of science fiction. It's being used in a wide variety of industries to drive innovation and efficiency. In fact, Microsoft has just identified AI as a top priority and expects it to drive business in the future. In the world of Prior Art Searching, the industry is just beginning to move past keyword searching and semantic processing tools. Here at ipCG we recently began utilizing AI to improve the quality and relevance of search results that support FTO Opinions and Market Clearance Reports.
POSTED BY Ken Statler AT 12:51 P.M. September 29, 2017TAGS: Innovation | Process | Strategy | Artificial Intelligence
On Thursday May 11th, ipCapital Group held its 13th Annual Thought Leadership Conference, bringing together innovation and intellectual property (IP) leaders from around the world in the picturesque Essex Resort & Spa in Northwest Vermont. This year’s conference theme was Effective Innovation - Transforming Ideas into High-Value IP.
POSTED BY ipCG Team AT 8:45 A.M. May 31, 2017TAGS: ipCG Team | IAM | Innovation | John Cronin | Strategy | Trade Secrets | Valuation
A number of acquisitions have appeared in the food and beverage industry in the past several years, including Kraft and Heinz, JAB Holding and Keurig, and most recently the thwarted acquisition of Unilever by Kraft Heinz. Companies would be wise to not only assess the business landscape of potential consolidation in the industry, but consider the IP landscape and patent owner shifts if more of the largest food & beverage corporations merge.
In our second installment of The Internet of Things (IoT), Data, and the Implications for Intellectual Property, we discussed the relationship of data and IoT devices. In this final installment, let's look ahead to the potential future of IoT.
The number of companies that are actively seeking IP protection in this area has rapidly increased. A chart created with ipCapital Group's patent research software, ipCG Innovation Integrator, demonstrates that from 2007 and 2016, there was a 1300% increase in patents related to the IoT.
China's history of largely ignoring foreign patents is changing quickly as their largest technology companies look for meaningful IP protections for their innovations. China seems to be well underway in the development of a solid IP national system for protection of IP rights. R&D investment and new regulations for equity investments spark innovation, while stronger patent laws and more fair litigation demonstrate the country's approach to IP protection.
POSTED BY Michael D'Andrea AND Eva Carreira AT 10:08 A.M. Nov 23, 2016TAGS: Innovation | Strategy | China
In our first installment of The Internet of Things (IoT), Data, and the Implications on Intellectual Property, we discussed the need to understand the full landscape of IoT, not just devices. In this second part, let's talk about "big data". All of these devices and the data they will create, hold, transmit and interact with raises a unique Intellectual Property (IP) question. Who owns the data?
ipCapital Group recently had the privilege of attending the 2016 BIOMEDevice Boston conference. Although the array of gears, wheels, pumps, membranes, molds, tubes and tools we witnessed was impressive, from our view, it was the data that stole the show. The Biomedical Innovation series of presentations focused heavily on the quest to collect, store and (somehow) utilize data, and made it clear that data is driving the cutting edge of the medical device industry. Three main themes emerged:
POSTED BY Jeff Padgett AT 5:29 P.M. Apr 28, 2016TAGS: Innovation | Strategy | Health Care | Jeff Padgett
POSTED BY Jeff Padgett AT 1:48 P.M. Mar 8, 2016TAGS: Creativity | Innovation | Smart Home | Jeff Padgett
To say that the healthcare industry is under intense pressure to change is an obvious understatement. But in a large and mature industry how do we begin to understand the scope and scale of the change needed? Working with our clients, and a review of the literature has made it clear that there are three broad areas that can provide a framework for change.
POSTED BY Robert McDonald AT 3:57 P.M. Mar 3, 2016TAGS: Innovation | Process | Strategy | Robert McDonald | Health Care | Big Data | Telemedicine
All companies are walking a fine line as they merge and innovate in smart wearables. The open spaces are quickly filling up. Proper care has to be taken to guard the innovation process to maintain an open space for the newest smart wearables to flourish. Any company, large or small, should be alert and constantly innovating to keep a competitive edge when addressing this market.
POSTED BY Justin Kunz and AJ Knowles AT 4:08 P.M. March 1, 2016TAGS: Disruption | Innovation | Invention | Strategy | Justin Kunz | IoT | Wearables | Smart Home
While the Internet of Things (IoT) is not new, we are now seeing the refinement of the devices, communication protocols, and data management that was not possible a few years ago. There is a forthcoming convergence of multiple product and technology spaces in this this new world of a predicted 50 billion "things," and the possibility for growth in markets and IP are enormous. IoT is a wide-ranging technological space. So we are publishing a short series on IoT and intellectual property (IP) to highlight some opportunities and challenges that we see, beyond the standard scope of everyday articles being circulated.
One of the complex problems that we have been focusing on recently is how to make innovation more successful. We measure innovation success as a combination of both the number of new innovations and the rate of successful implementation. Innovation without implementation serves neither a company nor its customers. From our work with clients we have concluded that there are four major elements necessary to have any chance of creating focused, implementable innovation that meets your business needs: The Four Pillars.
POSTED BY Robert McDonald AT 4:55 P.M. Jan 28, 2016TAGS: Innovation | Process | Strategy | Robert McDonald
Traditionally, knowledge was viewed in India as something that is created and put in the public domain. However, this does not fit with the global understanding of strongly protected IPR. Hence, there is a need to show the value of transforming knowledge into IP assets.
POSTED BY Nagesh Kadaba AT 1:57 P.M. January 25, 2016TAGS: Innovation | Strategy | India
In this whitepaper, Adam outlines the changing customer and competitor landscapes facing today’s banking industry and argues that developing a thoughtful innovation strategy, considering changes with both customer needs and competition, is necessary to maintain profitability.
POSTED BY ipCG Team AT 4:06 P.M. January 15, 2016TAGS: Adam Bulakowski | ipCG Team | Innovation | Strategy | Banking
For more than a decade, firms have focused much of their "open innovation" (OI) efforts on one direction - inbound OI. The push has been fueled in part by a wealth of scholarly articles and disclosures by the likes of Procter & Gamble about accessing the marketplace of outside ideas. The outbound direction of OI, while arguably less intuitive, offers a number of opportunities for firms to capture value from either internally generated or acquired innovation.
POSTED BY Adam Bulakowski AT 12:21 P.M. December 17, 2015TAGS: Adam Bulakowski | Innovation | Outside Publication | Open Innovation
The Apple Watch is, as usual for Apple, a trailblazing product that not only showcases a new product, but opens up a path to grow a new area of technology. It is also another example of true innovation struggling against internal and external forces, all of which try to hamper innovation, harming sales and damaging the development of exciting technology. As with other examples, the Watch is proof that process is just as important as the innovation when it comes to implementing great ideas.
POSTED BY Chris Huffines AT 1:33 P.M. Sep 22, 2015TAGS: Chris Huffines | Innovation | Invention | Process
What is really required to make a significant change to the overall cost of healthcare delivery and its associated industry of health insurance? The answer is innovation, both in how people are cared for and how they pay for it.
Innovation capabilities, from understanding customers to commercializing new products, determine financial success for nearly all firms in today's economy. By building a capability to manage IP, a firm maximizes the potential for a lasting return on innovation.
POSTED BY Adam Bulakowski AT 4:12 P.M. July 6, 2015TAGS: Adam Bulakowski | Commercialization | Innovation | Invention | Strategy
The Walt Disney Company was recently awarded a number of issued patents for future unmanned aerial vehicle (UAV or UAS or drone) integration into its aerial shows. By patent protecting this technology and technology application, Disney may keep competitors (e.g., Universal Studios) aerial display shows "on the ground".
POSTED BY Cody Barrette AT 1:30 P.M. June 18, 2015TAGS: Entertainment | Innovation | Invention | Strategy | Cody Barrette
Valuable IP will define an upcoming chapter in China’s growth story. China recognizes that innovation is an imperative for its long-term economic growth. Less discussed amongst the country’s initiatives to promote innovation is the fact that China’s national system for protecting IP rights continues to strengthen. The rapid evolution of China’s IP system requires emergent IP strategies from all domestic and foreign firms.
POSTED BY Adam Bulakowski AT 9:28 A.M. May 12, 2015TAGS: Adam Bulakowski | Innovation | Strategy | China
Is your business strategy aligned with the current market? Or, are you exhausting resources on innovations for a bygone market opportunity? Reboot your innovation strategy with a broader perspective.
POSTED BY Adam Bulakowski AT 5:45 P.M. Jul 25, 2012TAGS: Adam Bulakowski | Innovation | Process | Strategy
This final article in a series of five on barriers to innovation and IP creation explores ideas for overcoming having no resources or budget. Learn how an effective “ROI story,” communicated to executives, can help you obtain dedicated budget to invest in staff, infrastructure, and tools needed to drive your innovation and IP initiatives.
POSTED BY Jed Cahill AT 8:02 A.M. Jun 19, 2012TAGS: Innovation | Jed Cahill | Process
Having a dedicated innovation or IP leader responsible for managing execution according to a documented process is essential for putting strategy into action. But even a well-defined strategy and process and won’t run itself. People make the strategy go. So, how can you help your organization motivate action by the teams and individuals needed to achieve your innovation and IP goals? How can you incentivize value creation?
POSTED BY Jed Cahill AT 8:03 A.M. Apr 23, 2012TAGS: Innovation | Jed Cahill | Process
Great innovation is not just about great ideas. To get new ideas off the ground, you need executive buy-in and funding. You can increase the likelihood of success by building the executive buy-in for the innovation process, and by knowing what the CEO and other stakeholders are seeking in order to approve and fund your ideas. Here's how you can find great new ideas and establish rigor in the process that will win support and funding.
POSTED BY Kate Shore AT 8:17 A.M. Mar 19, 2012TAGS: Ideation | Innovation | Kate Shore | Process
Serco, a FTSE-100 outsourcing company based in the UK, operates contact centers for a large, FTSE 100 broadband provider, who was seeking to raise the level of performance for customer service. ipCG's innovation process was used to discover and prioritize 300 innovation ideas toward this objective. Just three months after the process began, Serco's performance on handling customer complaints moved to the top of the client's supplier performance table.
Strategy is only as valuable as your ability to execute - an imperfect strategy that is well executed will generate much higher returns than a glossy white paper strategy that is poorly executed. So, how can you help your organization turn innovation and IP strategy into business value? This third article in a series of five on this subject explores ideas for overcoming the barrier of having no defined process.
Establishing a clear direction for innovation and IP creation starts with consensus on an overall corporate strategy that defines the vision, specific business goals, and tactical actions that serve the vision and goals. Unfortunately, Executive and Board level consensus on the strategy is not enough.
No new typewriters will be produced in 2012. The last production line closed down just this past year. On the one hand, this shows quite poignantly why innovation is important, on the other hand, it shows that destructive innovation is not something that happens in a flash. So, how do you know if your product is a typewriter? Do you have a plan?
The innovation and IP leader who is able to overcome the barriers has an opportunity to advance the company's competitive position with better products and services, faster time to market, more efficient operations, stronger IP, and the resilience necessary to respond to rapidly changing market conditions and critical business problems.
In the September issue of Intellectual Property Magazine, Kate Shore discusses how to address IP issues before the relationship to help create a culture of co-invention and collaboration, how to rev up your innovation engine to generate many potential inventions, and ways to maximize the value of the inventions created for both parties.
Innovation is the lifeblood of consumer products companies, as they strive to stay ahead of competitors, respond to evolving customer needs, and manage other market pressures. Products typically have short timelines for development, design, and marketing and high corporate expectations for sales. Getting products to the market is just the first step in a long process.
In a recent article, "Is the recession suffocating American Innovation?," Deb Riechmann of the Associated Press describes some trends that may be negatively impacting the success of innovation in the US. There has been a decline in the new patent applications at the US Patent and Trademark Office because some companies...
In Vijay Govindarajan's blog, "Strategy and Innovation," his April 12th entry responds to a recent BusinessWeek article, "Is Innovation Too Costly in Hard Times?" From the article, IBM Chief Executive Samuel Palmisano, states, "Some may be tempted to hunker down, to scale back their investment in innovation. While that might make sense during a cyclical downturn, it's a mistake when you're going through a major shift in the global economy."