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
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.
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.
"It is only a matter of time before the integration of IP and product development becomes part of the mainstream business process. Companies have to decide whether they want to be leaders or laggards as this happens." John Cronin, Managing Director & Chairman of ipCG, and Brad Goldense President and CEO of Goldense Group, Inc. are the authors of "Integral IAM and new product processes are the future," published in the November/December 2009 issue of IAM Magazine. Their article stresses the importance of becoming an early adopter to the growing trend of merging intellectual property and business goals.
Telecom companies large and small will reduce costs by out-sourcing more processes, reducing headcount, and generally reaffirming focus on core markets and technologies. The cost-cutting conversation for many will eventually turn to intellectual property (IP), and rightly so. There is opportunity for many thousands or millions of dollars in value creation by reducing costs and increasing revenue through strategic management of IP.
Any company that files patents as part of its intellectual property (IP) strategy should be actively thinking about the end use of these assets. In order to maximize business leverage, a patent holder must be able to demonstrate that a third party is using or may have a desire to use the patented invention.
Is your company planning to layoff employees in response to a tougher economic environment? Do you have a process for preventing valuable intellectual assets from walking out the door along with your exiting employees?
As the economic downturn forces companies to tighten their collective belts, one strategy they cannot afford to abandon is strategic management of intellectual property (IP) through patents - one of the most powerful methods of protecting competitive advantages.