Written by IAM
What for you are the key metrics of a successful IP strategy?
Intellectual Property (IP) departments are transitioning from cost centers to profit centers in many companies. This change means that they can also transition from a defensive strategy to an offensive strategy.
As a result of these transitions, we need to think about the costs and benefits of every IP asset as one of the key metrics of a successful IP strategy. We also need to consider valuations of IP assets and understand their impact on the company, in order to have an efficient pruning process. This helps the company retain their core IP assets. Additionally, companies need to focus on using their IP assets in their product and service offerings with a combined business and IP strategy in mind.
Given the extreme speed of global events – especially over the last few years – what are your recommendations for keeping clients’ patent strategies current?
Trade wars have had a major impact on the global supply chain, causing disruptions and uncertainty. This has led to a heightened focus on IP strategy, as companies try to protect their interests and investments. We need to be prepared to adapt IP strategy as the situation changes. This is especially true for the tech-based startups and small medium enterprises (SMEs), who need to be more cautious about infringement of other firm's IP assets, and who should also file for IP protection for their own business.
Large established organizations need to keep a watch on competitors, their growth, and corporate actions not just IP filings and landscape. It is essential to monitor what they're doing and how they're reacting to the current situation as well.
Which of your matters or deals has been the most memorable – and why?
We have recently seen an increasing use of IP data in the non-traditional IP business segments. This trend is being seen in sectors from M&A due diligence to SMEs and venture funding. Governments around the world are pushing for the development of technology, and the assessment of IP and intangibles for venture funding of SMEs is essential.
Thanks to this shift, IP data is playing a major role in numerous aspects of business. For example, in M&A due diligence, IP data aids in assessing the value of any IP, as well as evaluating the current state of a company's IP portfolio. By getting a thorough understanding of a company's IP, investors are empowered to make informed decisions when offering up funding.
Ultimately, IP data is playing a larger role than ever before in the non-traditional IP business segment and beyond. As technology continues to evolve, this shift away from traditional methods will only increase, making it vital for businesses to stay informed and make use of this information if they want to keep pace.
What is your proudest professional achievement of the last 12 months?
We've been focused on setting up a historical point in time view of corporate IP portfolios and valuations, and we've recently managed to make this vision a reality. What this means is that in an ever-changing technological landscape, if a client is looking for information on a specific patent portfolio, our system will allow them to pick a point in time and get a full picture of the portfolio from that time. These IP signals provide significant insight into the stock index and market performance as well.
What effect – if any – are you seeing the climate crisis have on innovation and development?
It is undeniable that climate technology is of significant importance in today's world. This is mainly due to the energy crisis and the associated rise in traditional energy prices. It is necessary to drastically reduce carbon emissions, in order to prevent the ever-worsening effects of climate change. Governments, corporations and organizations around the world are striving to achieve this goal by reducing carbon emissions by several percent on an annual basis, or academic net zero in the near future.
This has caused many startups to focus on technology and innovation-enabled business models that revolve around climate technology. Companies are becoming more conscious of the environmental impacts of their operations and are researching and developing sustainable solutions to increase their efficiency, and reduce their environmental footprint.
These businesses are providing advanced technologies such as renewable energy sources, energy storage solutions, and other clean power solutions that help companies reduce their dependence on traditional fossil fuels. They are also helping to create a new economy focused on clean energy, which centers around sustainability and the efficient use of resources. This is evident through the 200% increase in greentech patent filings over the last 10 years.
Read the article on the IAM website