Every
organisation has a reason for being. It might be a unique ability to offer a particular
product or service, or it might arise from having been in the right place at
the right time with a certain set of capabilities. But at its core, your
organisation probably relies on intellectual property (IP) far more than you
imagine. Intellectual property is just another way of describing valuable
knowledge – knowledge about the way that you do business, knowledge about the
way that you make your products, your business processes, even your customer
lists. How would it affect your business if your closest competitor knew
precisely how you carry out your business and had access to your internal
operating procedures and customer lists? The knowledge that you have – and your
competitor does not – is a source of competitive advantage and is likely to be
a key factor in your success. That knowledge is frequently the difference
between organisations that succeed and those that fail. Physical assets and
traditional sources of competitive advantage such as manufacturing capability
or location have far less relevance. The value of many of the world’s largest
companies is increasingly vested in knowledge-based, intangible assets.
An
economy based on these assets is often known as the ‘weightless economy’. Some
organisations recognise that innovation plays a role not just in product development
but in every part of the organisation and institute formal processes to think
about the generation and capture of knowledge wherever work is performed. They
address each part of the business in terms of what is best practice and make commercial
buy versus build decisions based on their particular corporate needs. Given the
increasing economic relevance of knowledge, it is imperative to focus on the identification
of that knowledge, its value and its management. Most people have some concept
of what an ‘invention’ is, but the management of knowledge or intellectual
property is far more than the patenting of inventions. It is an understanding
of what intellectual property is, when intellectual property has been created,
the value of the created knowledge, and of how to protect intellectual property
that has value. It is the use of systematic processes to understand the intellectual
property of others and to generate your own.
This
last point is a critical one. Many young organisations are surprised to find
how much has been ‘done before’ – usually so much that it is difficult to make
a product without relying on previous work. Much of that work is protected and
may not be used legally without obtaining a licence from the owner. However,
knowledge of what has been done before can also refine a view of where your
competitive advantage may come from and what your competitors are doing. It can
provide substantial commercial opportunities. By licensing the knowledge of
others and collaborating with them you can focus on your core competencies and
make your investments go much further. It is preferable to be aware of the IP
landscape and your competitors before investing significant resources in the
development of new products.
So,
how do you identify and manage intellectual property? This manual is designed to
help. It provides guidance for those that are seeking to implement best
practice in intellectual property management and capture value as a result. It
provides reference material and information relevant to all types of
organisation. It recognises that individuals in different parts of an
organisation have different roles in the protection and management of knowledge
– but that at the core it is a responsibility for everyone. IP is a valuable
strategic and financial asset for every organisation. Like any other resource,
IP should be carefully managed. Without appropriate management, the organisation
may be unaware of its IP, its value or benefits, or may expose itself to unnecessary
risks.
The
management of IP is an ongoing task which lasts throughout the life of the IP, until
expiry. The diagram below illustrates the life cycle of an IP asset, and the
decision points you may need to consider at each stage of its life for the
effective management of your IP. This Manual provides guidance in the following
Chapters on the management of IP throughout this life cycle and for each of
these decisions points, including providing information on the nature of the
different forms of IP.
