This week, principal Liz Garnand (twitter LizGarnand) and I have a look at the area of rights and intellectual property (IP) management with the help of our friends at searchManufacturing.com.
Tapping new revenue opportunities with IP management software.
Why is IP management back in the forefront, and why are there new revenue considerations? According to the article, there are several new confluences in the space of how people manage ideas and products.
By 2014, two-thirds of Fortune 500 enterprises will design open innovation networks to engage employees, customers, business partners and Web communities, according to a February 2011 study by Gartner Inc. titledUse Innovation Network Design to Unleash Open Innovation. Cross-enterprise teams will require that their respective companies’ intellectual property (IP) is readily accessible on an as-needed, confidential basis. As a consequence, access to royalty and licensing structures and forecast models will be needed to make sound financial decisions.
Using existing IP in collaboration with partners is not the only revenue opportunity. For example, in the semiconductor industry, where revenues are forecasted by Gartner to reach $314 billion this year, the challenge is to innovate and deliver within a fast-moving market, especially the consumer market for tablets, smartphones, iPads and mobile phones. Because the research and development (R&D) investment ranges from 10% to 15% of revenues, IP reuse is important in helping to minimize continued R&D costs and when responding to requirements that often are customized to a corporate buyer.
Please visit the searchManufacturingERP.com site to read the article and follow them on twitter (ManufacturingTT). You may download a complimentary copy of the Newport Consulting Group white paper featuring Saphran Solutions from the website.