Industry leading Intellectual Property advisory group ipPerformance Group releases results of Intellectual Property Management Strategies, Metrics and Tools study.
Online PR News – 14-July-2009 – – CHICAGO, IL -- ipPerformance Group survey results indicate that corporate intellectual property strategies are becoming more sophisticated including the growing importance of licensing initiatives.
One hundred and eight companies participated in the 2009 'Intellectual Property Management Strategies, Metrics and Tools Survey.' The survey was conducted among intellectual property leaders representing 23 major industries.
Survey participants were questioned on a range of topics, including:
• Strategy success metrics
• Key roles involved in developing IP strategy
• The key elements of the IP strategy
• Effective value indicators
• Effective metrics and methods for communicating value to executive management
• Success factors and best practices for measuring and communicating value
• Key roles responsible for managing the patent portfolio
• Methods used to promote IP program value to executive management
• Methods for aligning strategy with corporate goals
• Most senior person that is intimate with the IP strategy
• Popular tools used for managing the portfolio and level of satisfaction
Participating in the survey were industry-leading companies such as Freescale Semiconductor, Caterpillar, Navistar, Praxair, Eastman Chemical, ASM International, Abbott Labs, Nestlé Purina, BD Medical, Swagelok, Polaris, Steelcase, Wm. Wrigley Jr. Company, Pratt & Whitney, and Dow Chemical.
"This is the third study we have conducted on intellectual property strategies and performance metrics, it is clear that innovation driven companies are improving their intellectual property management proficiencies, although many companies are not implementing business aligned value metrics. Technology and legal personnel are the primary drivers for developing intellectual property strategies, although we see improvements in getting business management involved," says Robert Williamson, president of ipPerformance Group.
The ipPerformance study reveals a variety of trends including:
Intellectual Property Strategies and Goals are Being Incorporated into Business Plan
54% of companies indicate that their written business plan explicitly incorporates IP strategies and goals.
Participation in Intellectual Property Strategies Development Varies
Stakeholders for developing intellectual property strategy varied greatly across the survey participants. Technology and Legal leadership play pivotal roles, both in preparation and approval responsibilities.
Volume of Activity Metrics Most Popular for Evaluating Intellectual Property Program Effectiveness
The research also explored the metrics used to evaluate the intellectual property program’s effectiveness. The most popular metric is patent applications filed, 77% of companies indicate that patent applications filed is how they measure their program effectiveness. Other popular measures are number of patents granted and invention disclosure reviewed.
Licensing Patents is a Key Business Strategy.
The research found that 57% of companies indicate that they have a patent licensing strategy. Increase revenue and technology control are the two most important licensing strategies. The study revealed a 15% increase of companies from the 2007 study indicating that generating licensing revenue is a success criterion of their patent strategy.
A full report of the survey findings is available from ipPerformance Group at http://www.ipperform.com.
About ipPerformance Group Inc:
ipPerformance Group, Inc. is the leading Intellectual Property advisory. Drawing on the knowledge of over 350 intellectual property management benchmarks of the Global 2000 companies, we help our clients solve complex intellectual property business problems and measurably enhance their ability to build value, manage risk and improve performance in an intellectual property–driven world.