Introduce an IP Management Strategy
An IP Management Strategy is underpinned by a regulated process, with clear procedures, protocols, forms and guidelines in place to make the IP management process as simple and error free as possible. Apart from regulating your organisations’ IP conduct, it is also a compliance program to which your organisation should adhere. As well as a compliance mechanism it is also a risk management tool to enable you to appreciate current and potential threats to your organisation.
There are many approaches to IP management systems, and organisations will adopt and emphasise various components in their business according to individual circumstances, the types of IP involved and the role of IP in relation to the organisation’s functions and objectives. It should be customised to the specific needs and demands of the organisational environment it serves.
While elements of an IP management system are individually important, linkages between its component sections will lead to an integrated outcome. The system illustrated below provides one example of a sequential workflow approach to enable your business to implement its own version. It should be a user-friendly, cost effective management tool to achieve IP content management and enable the company to manage the IP commercialisation process of taking any innovation or product idea to the market.
The six elements of an IP management system
Figure 1 below illustrates a generic workflow approach of an IP management system identifying the elements of effective IP management for a business.