IP Assessment & Plan
An understanding of the IP related to a company’s technology, and alignment of IP strategy with business strategy, is critical for maximizing the value of innovation and R&D activities. For any product lines or development initiatives involving technology not generally in the public domain, an IP assessment could be conducted on a periodic basis.
The IP assessment should be accompanied by an IP plan to address any issues identified in the assessment and to align the IP strategy with the business strategy.
IP Assessment & Plan – Topics
An IP Plan should also be established annually. The IP Plan should articulate key actions for addressing the opportunities and threats that were identified in the SWOT assessment.
The IP Plan should be delivered to management and communicated within the company so that the actions and priorities may be implemented in conjunction with the business operation.
IP SWOT Assessment
An IP SWOT assessment should be kept strictly confidential. The assesment could be performed for the business as whole and for key product lines/development initiatives.
IP SWOT inputs could include an IP audit that entails:
- An IP landscape survey to assess the relative IP holdings of competitive entities or trolls
- A mode of competition analysis
- The relative effectiveness of the various forms of IP