Development and Implementation of Corporate Intellectual Property Management Programs
IP management can be a tool to strengthen a business and open the door to licensing opportunities
The Situation
Beta Co., a bulk chemical producing division of a large diversified business,
had developed an array of innovative products. Several patents had been granted
or applied for. In addition to the patents, Beta Co. relied on manufacturing
process trade secrets for a competitive advantage. The benefits of potentially
licensing its patents and trade secrets in countries to which shipping expenses
were prohibitive, had been identified.
The Challenge
In order to assess the attractiveness of licensing opportunities for Beta Co.,
it was necessary to establish what a licensing offer would include.
The Solution
To assist Beta Co. with formulating a potential licensing offering, Vertex
carried out an intellectual asset inventory. During this initiative, it was
identified that more clearly defined "standard operating procedures" needed
to be developed in order to be able to successfully transfer the technology
and know-how to a licensee in the future
The Result
Beta Co. was prompted to expediently develop "standard operating procedures".
This not only served to effectively position Beta Co. for a licensing venture,
but also, reduced the vulnerability of Beta Co. to lost production in the event
of the absence of key operating personnel and facilitated the identification
and implementation of possible future process improvements.
