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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 using each best practice includes quality gain, productivity gain, revenue impact, risk reduction, and cost savings.

Other videos in the series are:

  • Developing Intellectual Property Strategies
  • Using Organizational and Strategic Metrics
  • How to Benchmark Intellectual Asset Management Practices
  • Developing Intellectual Asset Management Software Return on Investment
  • Classifying Patents
  • Top Management and Key Stakeholder Value Propositions for Intellectual Asset Management
Portfolio

Provide an annual Intellectual Asset Management report to your business
Annual Review Portfolio
Review the entire intellectual asset portfolio at least once per year
Properly update appropriate databases with information regarding the 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 your patent portfolio’s pending and issued patents by “business use.”
Conduct IP Reviews During the 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 the 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, and 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.

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