OSPE - The Voice - Fall 2013 - (Page 26)
ENGINEERING INTEllIGENCE
Part 1 of a two-part series
8 BEST PRACTICES
FOR INTELLECTUAL
ASSET MANAGEMENT
By Dave Tyrrell, P.Eng, & Gary Floyd, PhD
Following are eight easily implemented best practices for IA management that
can benefit not only businesses seeking to establish an IA management program
but also those seeking to review their existing protocols. In this issue of The Voice
the first four best practices will be discussed.
Independent studies show that intellectual assets (IA) often account for
75 per cent or more of the value of a
business. In fact, they can be the most
valuable assets that many businesses
possess. For this reason, careful attention to their management is clearly
EIGhT EASy-TO-IMPlEMENT bEST PRACTICES FOR INTEllECTuAl ASSET MANAGEMENT
1. Identify and catalogue your intellectual assets
2. Develop trade secret and patent strategies, as well as an
IA management plan
3. understand the consequences of intellectual asset ownership
arising from employment and consulting agreements.
warranted. Effective IA management
4. Establish an invention award policy
is particularly critical to companies
5. Utilize non-disclosure agreements
whose competitive edge hinges on
6. Establish proprietary information protection procedures
the development and application of
7. Strategically license out your technology and license in technology
advanced technologies.
Effective IA management pro-
from others
8. Enforce your patent and trademark rights and copyrights
vides a competitive advantage and
maximizes the value of a company's
intangible assets, which need to be:
* Fully identified
* Suitably safeguarded
* Strategically applied
Most organizations have protocols in
place to ensure that they are employing best practices for business tasks
such as quality assurance, safety,
inventory control and human resource
management. However, these same
companies often have no program in
place to manage their most valuable
properties - their intellectual assets.
1. IDENTIFy AND CATAlOGuE yOuR INTEllECTuAl ASSETS
When the topic of intellectual assets is raised, patents and trademarks generally
come to mind. Most companies will be able to readily identify patents and trademarks that they own. Less simple to identify - and often more valuable - are
a company's trade secrets, which typically refer to technical information such as
product formulations, specifications and manufacturing processes. These can also
include business information such as financials and marketing plans. Trade secrets
can be more challenging to pinpoint, but they can provide a considerable competitive advantage. If they are not catalogued and managed properly, valuable trade
secrets can be lost.
Best practices for identifying and cataloguing intellectual assets involve two
major undertakings:
1. Create an inventory of all patents, trademarks, copyrights, industrial designs
and trade secrets. Ensure these are fully documented.
2. Strategically utilize legal protections for your documented intellectual assets.
2 6 TheVoice Fall 2013
Table of Contents for the Digital Edition of OSPE - The Voice - Fall 2013
OSPE - The Voice - Fall 2013
Contents
Viewpoint
Newsbytes
Engineers of Influence/WEAC Fall Forum
OSPE-PEO Chapter BBQs
Tom Anselmi, P.Eng.
Profile: Bill and Bob Goodings
The 66th Annual Professional Engineers Awards Gala
Now Hiring Engineers?
Preparing New Grads for Employment
Canada’s Engineering Labour Market
Point & Counterpoint
Tackling Transit
OSPE Political Action Network in Full Swing
Energy Planning
Elliot Lake Inquiry
Intellectual Property
Learn, Develop, Grow Your Career
Grow Your Engineering Team
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