Main purposes of this module
- to introduce value extraction strategies
- to explain how IP assets can be used to improve competitive position and/or income generation
- to provide an example for each IP value extraction model
Topics covered in this module:
- Value chains
- Premium price supported by IP
- Entrepreneurial use of IP for financing
- Revenue generation with IP assets
- Technology access and FTO
- Market opportunities through Open innovation and collaboration
- IP based control of ecosystems
More information
This module starts with some statistics on the economic damage caused by illegal counterfeiting and piracy, illustrating one example of the economic motivation for IP rights and their relevance to globalised economies and mass production, when the cost of copying is lower than the cost to invent and to innovate.
It also explains the importance of owning an innovation for successful commercialisation and sets out the links between technology strategy, product/market strategies and IP strategy with the aim of protecting the relevant IP assets to gain ownership of your innovation. It illustrates the two IP exploitation paths: protecting the primary value chain for premium price strategy vs. generating additional income from licensing.
A powerful IP strategy typically uses a mix of codified IP (patents, trade-marks, designs, copyrights etc.) and uncodified IP (know-how about technology, implementation, products etc.) to maximise the protection of the business. Finally, it presents the different stages of maturity of the strategy and the accompanying evolution of the IP management roles.