Intellectual Asset Management Best Practices
The ipPerformance Group’s Guide to Best Practice describes the essential intellectual asset management best practices. These practices are supported by extensive experience, competencies, and documentation within IpPerformance Group. The practices includes the step-by-step process, key stakeholders, and performance metrics. If you have any suggestions please submit them and we will evaluate the practice and update our guide.
- Provide an annual intellectual asset management report to your business
- Conduct annual portfolio review
- 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”
- Determine the patent action plan for your portfolio (This is also known as patent strategy, IP strategy, IA strategy.)
- Align intellectual assets to your business units
- Use of Patent Intelligence (patent trees, patent maps, or patent landscapes)
- Evaluate the need for a competitive assessment and the activity
- Prioritize the disclosures in your portfolio
- Donation of intangible assets to non-profit organizations
- Out-licensing of intellectual assets
- Valuing Intangible Assets
- Benchmarking of intellectual asset management practices with outside companies
- Internal benchmarking of intellectual asset management practices between business units
- Establishing a contact as an intellectual asset focal point for your business or technology area
- Form and staff an intellectual asset management team
- Facilitate at least one IAM team meeting per year/Conduct IAM-team meeting
- Patent filing recommendations – Establish standard factors
- Patent maintenance recommendations – Establish standard factors
- Recommend/document/implement patent filing recommendations
- Manage trade secrets
The complete best practices with descriptive steps to complete, measures, value points, and functional participants are available in written, audio, and video formats.
How do you do this? This provides a brief, complete description of the practice.
Why should this be considered a best practice? What benefit is derived over other practices or methods? The points tested for each of the best practices include: quality gain, productivity gain, revenue impact, risk management, cost savings, and other.
What type of measurement quantifies the usefulness of this practice?
Typical functional participants:
Who is involved in this type of practice?