How Managing Intellectual Property Can Build and Sustain Competitive Advantage | Intellectual Property

Today, managing intellectual property (IP) is a major strategic concern, particularly for firms operating in and around the technology sector. Patents remain key to developing and sustaining a competitive advantage in technology development; however, multiple instances of patent infringements and violations have resulted in huge penalty costs and tarnished reputations. The risks of a poorly planned and executed IP strategy are clearly rising. Moreover, with the number of registered U.S. technology patents on the rise, companies are leaving behind millions of dollars in unrealized value in the form of “orphan technologies.” How then can a technology firm defend, mobilize and profit from this neglected IP? How can companies continue to safeguard and capitalize on the intangibles that fuel their growth engines?

Deloitte Research, a part of Deloitte Services LP, has released a report titled Value, Protect, Exploit: How Managing Intellectual Property Can Build and Sustain Competitive Advantage, which describes the shift taking place today in managing technology-based intellectual property.

The report outlines a Value, Protect and Exploit (VPE) IP framework which can assist senior technology leaders in assessing their existing IP strategy. The VPE approach helps firms capture the value they have created by aligning their IP resources to achieve strategic innovation goals. The framework illustrates three core IP capabilities and the requisite competences integral to successful deployment:

Value: Determine the value drivers; categorize the IP assets; value each asset
Protect: Position the IP portfolio according to strategic objectives; analyze technology and patent lifecycles; develop and deploy patent blocking strategies
Exploit: Formulate and deploy a licensing strategy; manage the IP regime; instigate an IP venturing program

The VPE approach can help position IP asset portfolios to achieve strategic innovation goals and thereby allow firms to capture the value they have strived so diligently to create.

To learn more, read the full report in the PDF attached below.