How to Make Sure Your IP Strategy Plan is Not Doomed to Failure

By destroying this “IP Expert” silo in your company and replacing it with a business-oriented IP Strategy, you will enable those outside of your corporate R & D and Legal functional operations to generate IP that will more likely directly enhance your corporate intangible asset value. However, it takes more than just destroying your existing “IP Expert” silo to be successful in maximizing your company’s IP asset value.

Your company must also foster a community of involvement that will allow each and every employee to understand the value of IP to your company’s P & L. In short, your company must work to create an IP Culture throughout your organization. I have come up with this simple formula to demonstrate the relationship between IP Strategy and IP Culture in the realm of IP Value Creation:

IP Value Creation = (IP Strategy) x (IP Culture)

Using this formula, no matter how good your company’s IP Strategy may be (or how much money you spend on consultants to develop your IP Strategy), if your company does not establish and nurture an IP Culture (i.e., IP Culture = zero), IP Value Creation will end up being zero. Moreover, if a company short-changes the IP Culture aspect of the equation (i.e., IP Culture value is less than 1), IP Value Creation will be less-than-optimum. On the flip-side, if the organization has a high IP Culture rating, IP Value Creation can be achieved even when there is not a robust IP Strategy on which to execute.

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