Your IP is too important not to be done properly What are the 5 most common Mistakes made in IP?

Your IP is too important not to be done properly What are the 5 most common Mistakes made in IP?

1. Having no IP Budget

Did you know?

  • IP spend can be a top 5 spend for small companies
  • Hiding IP spend in Legal or R&D budgets leads to conflicts
  • IP spend can and should be budgeted
  • Having an IP budget is first step to managing costs effectively
  • Appropriate IP budget is the goal

 

2. Not aligning IP & Business

 

Have you considered that?

  • IPRs are business tools to support business strategy
  • Identify where IPR adds value
  • Focus on most appropriate IPR for business
  • Focus on future value vs. current value
  • Helps manage IP spend
  • Prioritise what is important vs, nice to have

 

3. Inappropriate spending on IP

Could this be you?

  • Wrong type of IP
  • Too little is as bad as too much
  • Manage increase as much as decrease
  • Maintaining IP beyond contribution to value
  • Prioritising acquisition of IPR over advice & internal structure

 

 4. Having the wrong Advisers

Do you need to revisit?

  • Not aligned with business objectives
  • Inherited with business/technology
  • Selected for location, low cost
  • Alternatives not considered
  • Can advisers easily explain how they add value?
  • How do advisers look to investors?
  • Reluctance to change

 

5. Having no Management Responsibility

Are there changes you need to make?

  • IP manager not one of the main business managers
  • IP not managed as part of job, but something extra
  • IP ownership by management
  • IP data not presented to allow management to manage

 

To discuss your

IP needs, get in touch with Wynne-Jones IP

e: Wynne-JonesIP@wynne-jones.com

t: +44 (0) 1242 267 600

www.wynne-jones.com