5 practical things to include in a corporate IP strategy
A corporate IP strategy is the overall strategy for the entity in relation to intellectual property. Here are 5 things to include in a corporate IP strategy.
1 – Corporate milestones
2 – IP milestones which leverage the corporate objective at each milestone (eg. – valuation for a licensing deal, M&A activity, etc)
3 – A practical plan for actually achieving each IP milestone
4 – Assigned responsibility to individual people for each step in each plan
5 – Acknowledged and accepted (by the team) accountability and consequences for achieving or failing to meet assigned responsibilities
Should be easy, right?
Many have trouble with 2 as they forgiveably don’t know enough about the IP armoury which can be brought to bear. Many more fail at 4 and 5 – implementation is always the trickiest part.