by Erwan COATNOAN DE KERDU

Intangible Capital Value

Our core business: intangible capital valuation

Signs that an IP management solution is needed

Published on: 10/28/2022
By: Erwan Coatnan de Kerdu

Dernière modification le 30/10/2022 à 22:52 par Kate Griss

A need for strategic intellectual property management is usually manifested by these signs.

The rate of innovation is slowing

To increase competitive advantage, companies must maintain the quality and quantity of their intellectual property. Continued innovation is a necessity. Infrastructure technology may need a complete overhaul. Software solutions exist today that can streamline the invention review and disclosure process. Key stakeholders can also be connected.

Inventors lack motivation

If competition overtakes a company, it will need to address the frequency of idea submission by knowledge workers, engineers and scientists. This volume generally increases when the submission process is streamlined. On the other hand, inventors will be more motivated if their ideas become visible by seeing the light of day. They will then be driven to participate more often and increase both the speed and frequency of the company’s innovation engine. Generally, people are simply happy to see their work rewarded and valued by the company. Their participation and motivation are greatly impacted.

A waste of value

Intellectual property is still potentially worth millions of dollars. Every year, this money is wasted by innovative organizations because of the difficulties stakeholders face in gathering it. Intellectual property management software not only provides a central repository that can be organized and accessed, but also provides completely secure access to this data. As a result, companies are able to capture far more potential value.

A perceived inefficiency in collaboration

The vast majority of modern organizations still use email and attachments to exchange information. Paper mail and documents are becoming less common, but are still used. As a result, collaboration between teams, employees and partners sometimes falls victim to a form of notorious inefficiency. Innovative companies tend to eliminate unnecessary steps during exchanges and facilitate them. Information flows through a single, automated system. All companies can access this technology today.

The information may not be secure

If confidential or sensitive information is flowing through folders, files, emails or attachments, it may be compromised. Information security has become a major issue for companies: data must be protected by all means. Companies must therefore comply with non-disclosure agreements and use modern intellectual property management systems.

The patent process is too slow

Ideas need to go through a quick process including internal submission, review cycle, prosecution decision and patent filing. Doing it manually is not compatible with fast execution. Only the software IP solution can help companies gain efficiency.

Spend or save?

An IP solution means devaluing annual expenditures on IP protection. How much is spent on legal defense? An IP solution allows companies to know the relationship between all intellectual property assets and save time and money.

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