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
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.
In order to assess the attractiveness of licensing opportunities for Beta Co., it was necessary to establish what a licensing offer would include.
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
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.