Bruce Story, Senior Advisor at ipCapital Group and former Senior Director, Intellectual Capital Management, with The Dow Chemical Company, was the featured speaker in one of Anaqua’s IAM Leadership webinars. He spoke on “Creating a Strategic Patent Portfolio” and discussed the challenges IP managers face in today’s economy and how they can respond to help the business and enhance the role of the IP team now and for the future by creating a strategic patent portfolio. He was particularly focused on the issues facing smaller companies.
Bruce pointed out that IP is a strategic tool for companies to maximize ROI on innovation in a number of ways:
- Grow competitive advantage … establish a strong offensive and defensive IP portfolio
- Protect brand … focus IP protection on elements that support the brand
- Grow transaction leverage … posture for deals with companies and/or potential collaborators
- Create value for potential investors … increase valuation for next round of VC funding, IPO or M&A
- Generate licensing revenue … connect core IP to external market needs
- Define boundaries … create freedom to operate to avoid lawsuits