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Like other legal professions, today’s IPBM model focuses on business impact. The IPBM model has shifted from managing IP through a purely legal or asset-based perspective to focusing on the business impact of an organization’s IP portfolio, and vice versa.
In essence, IPMM is moving from an IP litigation-based lifecycle to a business-integrated lifecycle. IPBM’s primary objective is to support core business operations, revenue generation, and enterprise value through robust data-driven decision-making program support.
Legal, practical and commercial alignment
The point of implementing the IPBM model is to expand the IP operation’s ability to adapt to the strategy, process and organizational dynamics. This model is based on analyzing how to turn that insight into strategic action by involving a wide range of departments and decision makers.
The illustrative model below illustrates the central role that IP Business Management plays in solving key asset management problems to achieve positive results. As the model shows, the central tenet of IPBM is the integration and alignment of an organization’s legal, operational and business processes to identify, address, mitigate and resolve IP governance challenges.
IPBM for Organizations: An Explanatory Model
IPBM, therefore, offers unique opportunities for the corporation to add value through better innovation and risk management, while achieving greater revenue and cost savings. From a more tactical perspective, IPBM aligns core organizational competencies and then delivers efficiencies by defining, tracking, and supporting the day-to-day processes that capture, maintain, and manage the organization’s creative assets.
In this context, the integration and alignment of the organization’s legal, implementation, and business processes provides insight into the IP organization’s activities—allowing IP leaders to have informed conversations with their business counterparts and decide where to best invest organizational resources. Among the goals is a clearer understanding of how one stakeholder’s activities can—or should—affect the outcomes of another.
IPM as a continuous business process
To further explore this concept, the flowchart below represents an integrated workflow cycle defined by four stages: requirements, development, retention, and realization. This flowchart shows the evolution from traditional IPM, which is largely focused on—and through—innovation management and IP litigation (the “Evolution” chapter in the chart below) to more flexible and interactive ways of strategic business management. As such, the IPBM lifecycle highlights the importance of aligning business and strategic objectives in the inputs (requirements), outputs (growth) and innovation.
The interest component is where the decisions that drive the IP life cycle are connected to the businesses that drive innovation and where the decisions that drive business outcomes are made. We can refer to this dynamic term as “business of law” where IPBM is dynamic and evolving by design.
In the next part of this series, we’ll talk about changes in shaping and nurturing creativity.
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