I had the pleasure of moderating a panel at Consero’s Global IP Management Forum in Newport Beach, California this week, where Karl Renner and Gwilym Attwell from Fish & Richardson facilitated the conference program. My panel on “Protecting Global IP While Keeping To Budget” included such luminaries as Jeff Duncan from Elevance Renewable Sciences, Inc., Kim Jessum from Heraeus Incorporated, Dr. Tim Joyce from Bayer West Coast Corporation and Julie Vanderzanden from Jarden Corp.
Our session covered topics including how to make the business case for an increase in IP spend and investment, how to evaluate your need for full protection of global IP portfolios against what make financial sense, and what metrics and tools are useful in managing IP legal spend. Some of the key takeaways were that understanding the diversity of your businesses, its organizational structure, and financial objectives are critically important to creating an IP value proposition that resonates with the company. Also, having a seat at the table when important business decisions are being made will ensure that the entire team is aware of potential IP costs, risks and value. In addition, it was suggested that IP teams create “playbooks” which describe the company’s business, priorities, product offerings and how this drives IP strategy. By doing this, IP teams can be perceived as a resource that supports the overall company’s priorities.
It truly was a lively discussion with great audience participation. Thanks again to the stellar Consero team and all of the insightful attendees at this year’s event for such an invaluable interactive forum for sharing ideas.