IN THE SPOTLIGHT
A.B.: Today, no one makes any jokes about us or belittles our plan. And it is only now that we are in the position to really get started!
and partners are being used to expand IPAN’s activities to Japan and China.
WIPR: What does IPAN's future look like?
Te strategy seems to have worked, as a look at the list of IPAN customers and co-operating IP firms shows. Clients include, among others, Germany’s BASF chemicals group, the Sandoz pharmaceutical group, several renowned Italian fashion and design labels, leading vehicle manufacturers such as Volkswagen, MAN, Hyundai and Ferrari, and one of the largest electronic producers worldwide, Philips electronics group. Te partner offices provide a similarly impressive list and represent IPAN in every important country in the world.
WIPR: What plans do you have for international expansion?
A.B.: IPAN is not a self-enclosed system. We are permanently enlarging our IP firm network. Further offices are warmly welcome to join us and thus to improve their own and also their clients’ competitiveness. Trough IPAN’s industrial clients, there is work for more IPAN partners from all over the world.
With its headquarters in Germany, an office in Italy and a first representation in Asia, three markets are already covered. Tis year, offices in the US, in France and in Great Britain are to follow. Early last year, the Asian branch opened in Seoul, South Korea, run by a former LG manager. From there, business in Asia was started and only two months aſter the start of activity, one of the largest Korean companies was obtained as a client. From South Korea, the existing contacts
A.B.: Aſter a slight consolidation in 2009, the IP market is continuing to grow rapidly. Te application figures cause us to look to the future more than optimistically. New marketing techniques, new service options and combinations provide a growth potential for our company that is far from being exhausted yet.
WIPR: And how do you plan to finance the forthcoming expansion?
A.B.: As a result of the financial crisis, investments had to be financed exclusively from personal funds and income achieved since formation. Tis policy only permitted limited, but very secure growth. Te investment market appears to be stabilising and we shall be looking for a financial partner this year. First discussions have shown that conservative investments such as an investment in IPAN are especially desirable aſter the many disappointing showings in the crisis. Only a few weeks ago, according to reports, one of our competitors managed to sell a minority holding of 25 percent to an investment group for almost €500 million. In this sale, the company achieved a valuation of twice its annual turnover.
Such a valuation confirms the durability and security of investment in the IP environment. Tis year, we are planning a €15 to €20 million share sale as a first step. With this investment, we will be in a position to finance our dynamic growth more quickly and more purposefully. Going public could then be an option to achieve further expansion and purchases—though there are no plans to do so at the moment.
48 World Intellectual Property Review May/June 2010
WIPR: Did you have any doubts about the success of the project?
A.B.: Developing a business idea not only on paper, but having the courage to put it into practice and to accept the financial and personal risk connected with this, is not always rewarded. So that success was even possible, we had to adapt innovatively and flexibly to the various requirements and strategies of offices around the world and their clients. We had to start internationally and our claim was and still is being an unusually broad-based group of IP experts and firms.
But the road to success is covered with difficult, time-consuming, oſten disappointing discussions.
WIPR: Were there setbacks?
A.B.: Yes. Partners who we were convinced would join in did not, assurances were not kept, consultants or employees we had relied on proved not to have the courage to follow up a new idea. I certainly underestimated the fact that our target group is attorneys and lawyers, and not business administrators. It was not that easy to convince IP firms of a completely new business model mainly based on strategy, reciprocity, changes in the market, and new sales and marketing channels. A business idea that wants to be marketed has to overcome the three essential barriers: I don’t care, I don’t believe, I don’t need.
WIPR: How did you overcome these barriers?
A.B.: Again and again, we asked for specific reasons why people weren’t interested in how we could resolve any objections. If you prepare well for this and can plausibly deal with reservations, then you are quite a bit closer to success.
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