MANAGEMENT + SYSTEMS IP should be fully integrated with a company’s business plan;
“ The optimum way of ensuring success is to integrate IP with the business plan right at the start.”
property is certainly possible - most people would say
essential - but not always very straightforward. There are, however, some simple steps that can be taken. If an organisation has decided to trade in a particular
country, it needs to try to extend protection in that country. We have worked with clients who think they are fully protected in all the countries that they need to be, when in fact, on closer examination, they are not, leaving the business open to risk. In Europe, a system operates to provide a method of protection
across the EU states. In the EU, different trade restraints apply, and it is especially important to consider competition law, which covers the free movement of goods around the EU and the avoidance of the abuse of a dominant position in the market. Recommendations for the exact route to choose will depend on the countries involved, the stage of development of the technology and the nature of revenue streams and cash flow. Because patent protection overseas can be complex, advice
at an early stage helps ensure pitfalls are avoided, opportunities maximised and costs are kept to a minimum. It can be time- consuming and costly to sort out errors later. In addition, patent portfolios need to be reviewed on a regular basis to ensure that as organisations and legislation change, full protection remains in place.
Monetisation So, finally, to monetisation. Coller IP has developed a Commercialisation and Management
Process that allows clients to understand the value of their intangible assets and to assess and track the commercial potential of their products and services at different stages of development. In addition, the process prompts decisions on how and whether to protect the underlying assets. Intangible assets can be valued in monetary terms and
knowing their worth can help you understand their true value to your business. If you are considering expanding the business, be very careful
about doing so until you are sure that all your legal protection is in place. Make sure that anyone with whom you discuss an idea for a new invention - whether a product or a service - has signed a confidentiality or non-disclosure agreement. During the growth and development phase, a company needs to be pro-active in monitoring any infringement of its IP.
120 Fastener + Fixing Magazine • Issue 76 July 2012
and, of course, during the life of a company, the plan will change. The IP needs to be reviewed on a regular basis to ensure it is constantly aligned to the business plan. A good IP advisor will not just help a business with the legal aspects, they will actively help in the commercialisation process of the ideas behind the goods or services that the company is selling by helping the organisation realise the tangible value of different aspects of the IP. A regular audit of the IP against business strategy is an excellent idea. This may show IP that is no longer core to the company and which could be sold or licensed, and highlight other areas where IP could be developed further to add value to the company. If your business has been trading for some time, you may
decide that it is time to either merge with another company or sell. If you are the company initiating a merger or sale, you need to know what your IP is worth in order to retain the maximum value for your company. The same applies if you are planning an IPO. For anyone looking to attract funding, getting the IP in order is a
must. Many venture capitalists/angel investors will be considering a range of IP factors when making their decision whether or not to invest. Knowing the value of your IP - or which parts of your IP are more valuable than others - is essential in making decisions about what parts of the business to develop, and when considering applying for funding or contemplating a sale. If the worst happens and a company becomes insolvent,
having IP rights that could be sold on can help the company and its creditors in such a situation. The optimum way of ensuring success is to integrate IP with
the business plan right at the start. Putting a value on the IP, ensuring the right protection is in place and reviewing it on a regular basis to ensure it is delivering maximum commercial value is an important part of the business strategy for any kind of business and its investors.
www.collerip.com
About Coller IP Coller IP combines technical, legal and commercial
expertise to deliver intellectual property management and valuation services that unlock the potential of business assets. It works with companies and professional practitioners to value IP for many purposes such as insolvency, fund raising, M&A, share issue, director disputes, arbitration, royalty considerations, divorce, probate, and tax considerations - and at all levels within organisations, from start-ups to corporates, from the boardroom to technologists and with the investor community. The company’s activities extend further to provide
board level strategies, competitor analysis, patent and trademark attorney services and clear legal opinions, as well as an Invention House service aimed at giving support and access to funding through venture capitalists and investors. Jackie Maguire, Coller IP’s CEO has been voted into
the IAM 250 of global top IP strategists for the third year running - and is leading in the UK. She can be contacted at
jackie.maguire@
collerip.com or on +44 (0) 870 402 1616.
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