Innovate or Perish: Managing the Enduring Technology Company in the Global Market

Best Practices for Strategic IP Management

“The way companies define, measure and reward excellent research has to change. Accessing a valuable external technology is a useful research activity. Companies today seldom reward this activity, though, in the same way that they recognize someone who discovered a valuable technology on the inside.”

—HENRY CHESBROUGH

An IP-intelligent enterprise gains increased shareholder value, enhanced transaction leverage, competitive advantage, and defensible market positions in existing and new market segments. The management, process, and cultural barriers to innovation are removed. Utilizing IP analysis and strategy can give a clearer purpose and insight for corporate development and growth through sustained and disruptive innovations. Strategic IP management can reduce the risks involved in executing disruptive innovation.

Industry-leading enterprises can utilize the real benefits of the open innovation paradigm to in-license new IP and build high-value portfolios. They can find new inventions for developing and commercializing disruptive or breakthrough technologies from smaller companies, universities, federal laboratories, and individual inventors. They can lock in the new technologies and construct strong patent portfolios with blocking patents around core IP and picket-fence patents for new IP needed in new market spaces. And they can out-license noncore and core IP to a network of strategic IP partners in multiple industries, spin out ...