IP and Tech Commercialization
IP Commercialization
Intellectual property (IP) valuation refers to the process of determining the financial value of intellectual property assets such as patents, trademarks, copyrights, trade secrets, and other intangible assets. IP valuation is important for various purposes, such as for mergers and acquisitions, licensing, financing, litigation, and tax purposes.
That entails considering the research’s goals and future directions, as well as any intellectual property (IP) implications, in context. What is the purpose of the study, and what is the researcher hoping to learn? What kinds of intellectual property rights are available down the road might be affected by decisions made during the research and development phase. While the publication of a research article in a scholarly journal is protected by copyright law, the discovery itself is no longer considered confidential and is therefore no longer subject to patent protection, which can have a negative impact on the discovery’s potential financial and technological benefits in the future.
The best way to handle the newly created intellectual property (IP) may be mapped out once we know what kinds of IP results. We can expect and what we hope to accomplish with it. The IP management strategy may be small in scope, pertaining to a specific project, or big in scope, encompassing all intellectual property associated with the lab or organisation. Planned considerations may also include potential expenses and hazards related to the IP and any potential protective measures. The operational strategy will identify the categories of intellectual property (IP) at play and the processes necessary to manage that IP in accordance with the overarching aims, in addition to describing the intended goals. Instructions for collecting and managing data from experiments and prototypes should be included in an IP plan, and any public disclosure or publication should be delayed until patent applications have been filed.
Now that you have an IP management strategy, it’s time to put it into action. In the IP plan, each person’s responsibilities and contributions will be spelled out in detail. All parties engaged will now make sure to complete their respective assignments. Maintaining open lines of communication is essential for reducing potential for error and achieving desired results.
As the market and other factors change over time, an IP strategy cannot remain unchanged. Typically, the foundation of an IP strategy is a key IP asset, such as the patented formulation of a novel cancer medication. Then additional IP can be developed and protected, for example:
- The manufacturing methods (patents or trade secrets) to make the drug or finished product
- The synthesis of critical ingredients (patent)
- Pricing relationships with suppliers of raw materials (confidential information – trade secret)
- The use of the drug in new ways (improvement patent, proprietary data for treating a rare disease)
- A kit or combination product that uses the drug (patent, copyright, trademark)
- A companion diagnostic test that helps select the best patients and conditions to use the drug (new patent)
- A new business service using digital technologies to connect and educate customers on the effects and timely use of the drug (copyright, software encryption trade secret, trade mark)
- Creation of brands and logos to heighten awareness of the drug and maximize trust in the drug (copyrights and trademarks)
- Creating single-source production when trade secrets are critical to the production
- and anything else involved in the value chain to bring a new drug to market that adds value to the final customer.
Not only patents but all types of intellectual properties must always be in sync with the company’s present and future plans. To increase the likelihood of commercial success, it is possible to take a number of different approaches, such as repurposing IP already in existence, creating brand-new IP, combining IP from different fields in novel ways, segmenting IP for use in different fields, and enlisting the aid of non-exclusive licence agreements. Despite a patent’s potential 20-year lifespan, innovations in the meantime could render it irrelevant. Therefore, the only way to sustain a competitive edge over the long term is to consistently generate new intellectual property. The innovation economy relies on this principle.
The Process of Intellectual Property Commercialization
Intellectual property (IP) may be a very significant asset for organisations since they can use it to get an edge in the market, enter new markets, grow the business, form partnerships, and even raise capital. In the event that there is sufficient interest in the invention, the inventors of IP have a number of avenues via which to profit from their creations.
Creators that have an entrepreneurial spirit may choose to monetize their IP by offering it to the public for sale. As the creator, you’ll have to put in a lot of work to find a suitable production method, analyse the market, create packaging, arrange shipment, etc. When an inventor decides to commercialise their IP on their own, they take on a great deal of risk because they are responsible for every facet of IP management as well as the needs of their business and all associated expenses. However, with high stakes come potentially high returns. This could lead to fame and fortune for the creator. The aforementioned Blackberry, Kodak, Nokia, and Shopify are just a few examples of thriving businesses that have chosen this route to commercialization.
One additional option is for the creator to transfer ownership of the IP to a third party. Institutional rules, research partnership agreements, and contracts are some of the ways this is done in advance of innovation in academic research and industrial joint ventures. Risk can be reduced through the assignment of rights, as the author retains credit for their work and retains the possibility of financial gain even after transferring ownership rights to the assignee.
Another way to monetize intellectual property is through a licence agreement, where the owner and licensee enter into a legally binding contract where the terms of the licensee’s usage of the IP are outlined. In this arrangement, the IP owner retains ownership while the licensee is granted permission to use the IP in exchange for payment, usually in the form of royalties. Once more, this approach helps lessen or divide up potential negative outcomes. Territory designation, cost sharing, and other mutually beneficial provisions can all be written into a licencing agreement.
Innovation Management
Intellectual Property Portfolio Analysis
Intellectual Portfolio Management
IP Mining, Evaluation & Strategy
IP Due Diligence
Technology Transfer
Licensing Roadmap
Strategic Patenting
IP Commercialization
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IP Roadmap
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IP Valuation
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IP Licensing
- IP Commercialization
Technology Commercialization
Technology Marketing
Technology Valuation
Tech and IP Scouting
