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Edison in the Boardroom: How Leading Companies Realize Value by Julie L. Davis

By Julie L. Davis

Julie L. Davis and Suzanne HarrisonToday's companies are continuously searching for interesting new and leading edge rules that may be used to generate profit. Up until eventually lately, this intended taking those principles and turning them into service or product, that could then be bought for revenue. yet at the present time, a distinct new suggestion is revolutionizing the best way businesses have become worth from rules. rather than incorporating them into product or service, modern suggestions could be bartered, authorized or offered within the "idea" degree for great quantities of cash. for instance, IBM presently gets good over $1 billion in profit each year from licensing its highbrow estate, unrelated to the manufacture of a unmarried product. this present day increasingly more businesses are adopting this concept of turning their felony departments, the place highbrow estate is housed, from rate facilities into revenue centers.Edison within the Boardroom: How prime businesses discover worth from Their highbrow resources takes an in-depth examine the progressive inspiration of highbrow asset administration (IAM). IAM is altering the best way businesses worldwide are doing company. of their careers as company experts, the authors were privileged to fulfill people who have been basically prior to their time while it got here to understanding worth from their businesses' thoughts. in line with their interactions with the ICM Gathering--an foreign workforce of businesses who meet numerous occasions a 12 months to create, outline and benchmark top practices within the sector of IAM--the authors have compiled a wealth of information and winning tales that illustrate how some distance companies have are available their skill to leverage and monetize their highbrow assets.Incorporating tales and teachings from essentially the most winning businesses within the worlds -- similar to Hewlett-Packard, IBM, Procter & Gamble, Rockwell, Dow, Ford and so on -- the authors have made an exhaustive examine of IAM and its implications for modern companies. they've got culled a hierarchy of most sensible practices that brand new businesses can combine into their very own enterprise philosophies to realize the simplest go back from their highbrow resources.

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Best Practice 5: Be willing to enforce, or don’t bother to patent at all. ” we asked. ” He was in for several long years of work! In another instance, when we met with the chief patent officer of a Fortune 500 firm, and asked what was contained in his portfolio, he sighed and pointed to some 20 file cabinets containing all of his company’s patents. Companies are now able to download the contents of their patent portfolios from a variety of online sources. If nothing else, companies should create a list of all of their intellectual property that has been granted, filed, and is currently pending.

The mentality in such companies was born in a time when the best defense was a good offense—ownership of as many inventions and patents, in as many areas as possible. Rather than patenting everything, it may be best to consider a spectrum of patenting options—including patenting nothing at all (which may be a valid strategy for some businesses at certain times). Here are the main choices, based on our experience with a variety of companies: Do not patent anything. Patent the occasional discovery of quite exceptional importance.

The information taken in both cases is considered proprietary, even if it is not protected under patent, trademark, and copyright law. 14 As a part of compliance, companies should avoid obtaining trade secrets by hiring employees or subcontractors from other organizations considered to be competitors. If the departing employee or the subcontractor brings valuable technical knowledge, it is important to make sure the employee owns that knowledge, and that it is not a trade secret proprietary to the previous employer.

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