Intellectual Asset Management Best Practices Overview

Establishing intellectual asset management best practices provides your organization with consistency and standardized processes and procedures. The value generated from using each of the best practices include: quality gain, productivity gain, revenue impact, risk reduction, and cost savings.

Other videos in the series are:

Developing IP Strategies

Using Organizational and Strategic Metrics

Benchmarking

IAM Software Return On Investment

Classifying Patents

Top Management and Key Stakeholder Value Propositions for IAM

Portfolio
Provide an annual Intellectual Asset Management report to your business
Annual Review Portfolio
Review entire intellectual asset portfolio at least once per year
Properly update appropriate databases with information regarding status of specific intellectual assets and decisions made about individual intellectual assets.
Manage the cost of patenting activity for your portfolio.
Identify Key Patents
Properly transfer or abandon patents from your portfolio
Classify the pending and issued patents in your patent portfolio by “business use”.
Conduct IP Reviews During Development Process
Strategy
Determine the Patent Action Plan for your portfolio. This is also known as Patent Strategy, Intellectual Property Strategy, Intellectual Assets Strategy.
Align intellectual assets to your business units
Competitive
Use of Patent Trees and Patent Maps or Patent Landscapes
Evaluate the need for a competitive assessment and the activity
Investment
Prioritize the disclosures in your portfolio.
Evaluate innovation for internal development versus external acquisition
Realization
Donation of Intangible Assets to non-profit organizations
License or sell intellectual property
Valuation
Valuing Intangible Assets
Operations
Benchmarking of Intellectual Asset management practices with outside companies
Internal Benchmarking between business units
Act as Intellectual Asset Focal Point for your business or technology area.
Form and staff Intellectual Asset Management Teams
Facilitate/Conduct at least One IAM Team meeting per year
Patent Filing Recommendations, recommend, document, implement patent filing recommendations
Managing trade secrets
Formalize a training program

Contact ipPerformance Group to learn more about our best practices library.

Our experts can work with you to adapt and deploy best practices in your IP program.