A new set of rules for innovation
Thomson Reuters
June 2009
In tough economic times, forward-thinking IP leaders need to establish their own change management initiative such that corporate strategy is shaped (and in some cases dictated) through a company's investments.
Business executives, regardless of their industry, are grappling with balance sheets in a state of flux as world leaders struggle to bring a sense of calm to their economies. With economies in the United States, Europe and Japan officially contracting, the reach of the recession is far and wide, touching all industries. However, there are two areas that should be insulated from its effects—IP portfolio management and research and development (R&D).
For those working in intellectual asset management (IAM), there is an important point to acknowledge: R&D and IP investment are as paramount in a bad economy as they are in a good one. These are the times when C-level executives should focus their IP and IAM strategies on resource optimization and innovation. IP portfolios become a fresh source of untapped value that can:
- increase a company's market value;
- provide a steady stream of cash;
- enable competitive advantage; and
- ensure predictable earnings growth.
In tough economic times, forward-thinking IP leaders need to establish their own change management initiative such that corporate strategy is shaped (and in some cases dictated) through a company's investments in innovation.
A new set of rules for innovation during times of economic uncertainty (PDF): read Stuart Recher's article, taken from "Building and enforcing intellectual property value 2009" (published by Globe White Page).
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