Importance of Intellectual Property Management

INTELLECTUAL PROPERTY

Intellectual Property

Trade Marks

PatentsGeograph

icalIndication

s

Registered designs

Trade secrets

PlantVarieties

Copyright

Intellectual Property Rights Can Save Product

• Patent for the fountain pen that could store ink

• Utility Model for the grip and pipette for injection of ink

• Industrial Design: smart design with the grip in the shape of an arrow

• Trademark: provided on the product and the packaging to distinguish it from other pens

• Companies such as IBM, Motorola, Philips, Canon, Hitachi, Microsoft file over 1000 patents a year.

• IBM earns over US$ 1 billion a year from patent licensing revenues

• US Patent License Royalties (in billions US$:

$0

$20

$40

$60

$80

$100

$120

• Over 80% of the market value of Microsoft derives from its intangible assets.

• The value of the Coca-Cola trademark exceeds US$ 50 billion.

TitleIP management (IPM) involves

ascertaining the company's intangible assets,

designing management processes to safeguard them, and

utilizing the IP assets to help determine the competitive edge and formulate the growth strategy for the company.

It is essential to have good IP management practices in place so that the company can benefit from their creative ideas and

innovative solutions.

IP Management As A Task

• Task

Management of Intellectual Property• Goal

Creation and utilization of intellectual property.

• Target

Maximizing the profits.

Intellectual Property

Management

IP Procurement

IP Creation IP

Monetization

Management of IP Strategy Portfolio

management

IP Compliance

Importance of IP Management

Consequences of not managing IP

• Failing to protect assets• Infringing others assets• duplication of efforts to redevelop

existing needs• loss of potential benefits (revenue,

reputation, industry development) from failing to commercialize

• low moral and stifle innovation

Importance of IP Management

• Improved Financial Performance

• Unlocks hidden value of IP.

• Opportunity to generate cash from licensing.

• Enables cost savings and increased revenue.

• Improved Operational Performance• Enables more informed decision making

by management by because of their understanding of what IP assets are owned, what is needed to operate and their IP value.

• Improved accountability of resources

• Know what IP is known

• Know what IP is core , secondary or surplus to activities.

• Improved Risk Management

• Minimizes risk of legal action for infringing. The risk include potential damages,legal costs and damaged reputations.