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Why Western Companies Need Not "Dread" the Sucessful Monetization of Intellectual Property by Indian Firms

by Jackie Hutter, IP Strategist

indian businessIn his Harvard Business School blog posting entitled "How Indian Firms Convert Intellectual Property into Intellectual Profit," Navi Rajou of Forrester Research contrasts the intellectual property ("IP") activities of Indian corporate strategists with those of their Western counterparts. In this post, Mr. Rajou identifies several aspects of Indian corporate strategy that allow Indian firms to effectively monetize their IP. Mr. Rajou's examples of the successful IP strategy-related activities of Indian firms can be summarized as follows:

  • Tata Motors, which is introducing a $2500 car in India this year, has obtained 40 patents. However, Tata's CEO recognizes that these patents are worthless unless the company also makes money from these inventions. Tata's innovation metrics therefore also include "time to value" and "time to volume".
  • Some Indian firms do not even bother filing for patents on new inventions because doing so

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Using IP Strategy to Reduce the Strategic Uncertainty of Business Decisions

by Jackie Hutter, IP Strategist

In my wanderings through the Internet, I recently came across a new-to-me management concept. This concept, which generally addresses the management of the risk of strategic decisions, directs C-level corporate decision-makers to embrace as a primary responsibility the management of uncertainty in order to enable the long-term success of their companies. The concept, developed by Michael Raynor of Deloitte Research, is briefly discussed in this article entitled "What is Corporate Strategy, Really" (available here: http://www.iveybusinessjournal.com/article.asp?intArticle_id=722) and in more detail in a book entitled The Strategy Paradox (more info here: http://www.amazon.com/Strategy-Paradox-committing-success-failure/dp/0385516223 ). In the article, Mr. Raynor effectively asserts that traditional models of corporate strategy are flawed because they are inherently based on a supposed understanding of future events. Instead of embracing the fallacy that they are able to predict the future, business leaders should acknowledge and accept that a significant aspect of corporate decision making is based upon planning

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Obtaining Broad Patent Rights Is Just the Beginning of a Patent Strategy: Beware of Those Who Would Block Your Right to Practice

by Jackie Hutter, IP Strategist

As reported in a recent New York Times article, an inventor has developed remarkable innovations in fluid dynamics, which is the way fluids (that is, air and liquids) travel in a system. If widely adopted, these innovations are expected to provide revolutionary improvements in several industrial processes. To quickly summarize this technology, the inventor, Jay Harman, has used a technique called “biomimicry” to adopt (actually co-opt) a fundamental feature of the way fluids travel in nature which, when applied to one or more of the aircraft, air-conditioning, boating, pump and wind turbine industries, could allow these processes to be conducted to much more efficiently, and with less energy consumption. Notwithstanding the marked improvements seen with Mr. Harman’s technology, industry has not been enthusiastic in adopting it for use. The New York Times article is focused on the reality that innovations are often rejected by industry if they represent too large

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Can Patent Strategy Be A Key To Help Preserving the Small and Mid-Sized U.S. Manufacturing Base?

by Jackie Hutter, IP Strategist 2

On a recent business road trip up the Interstate 85 corridor between Atlanta and Charlotte, I was stricken by the large number of empty small and mid-sized manufacturing facilities lining the expressway. On the drive north to Charlotte, we passed a dozen or more large, but abandoned, industrial buildings with empty parking lots and "Available" real estate signs visible from the road. In a significant manner, these empty facilities demonstrate the debilitating effects of globalization on the formerly vibrant small and mid-sized manufacturing base that previously dotted the landscape of the U.S. After establishing the markets and building the customers for, as some examples, specialty plastics, packaging materials or electronics, these companies lost the "race to the bottom" on price against low cost foreign manufacturers and, as a result, went out of business. When these companies closed their doors, well-paying jobs, the owners' assets and the local tax base were

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If You Can’t Beat ‘Em, Join ‘Em: Patent Strategy as a Business Model

by Jackie Hutter, IP Strategist

In the May 12, 2008 New Yorker Magazine article, Malcolm Gladwell posits that there is no shortage of ideas. Rather, he indicates that what is needed is disciplined processes centering on invention and execution of those ideas through into the marketplace. Mr. Gladwell's article (which I believe is a must-read for those of us in the "innovation game"), goes about proving his hypothesis by reporting on the inventive processes of the principals of Intellectual Ventures. (Intellectual Ventures website is linked here: http://www.intellectualventures.com/).Intellectual Ventures is a new type of company. Its premise is that highly skilled scientists, engineers and other types of "big thinkers" can learn enough about a technical or human problem, such as a common medical condition, to invent possible solutions when in a "brainstorming session" with other high level thinkers of varying disciplines. Intellectual Ventures then files patent applications for the most promising of those solutions,

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Who Cares if the Patent System is Broken? Making Lemonade from the Patent Office’s Lemons

by Jackie Hutter, IP Strategist 1

Is the patent system broken? I am now an IP Strategist and owner of a patent strategy and consulting company, however, I spent many years in the trenches working to prepare and file U.S. and foreign patent applications for large and small companies of varying levels of sophistication. From my experiences, there is no doubt that there are fundamental problems with the U.S. patent system, as well as the patent systems of other countries. As one example, I frequently experienced frustration dealing with patent examiners who clearly did not understand the basic rules of patentability, even when these rules are clearly spelled out for all to see in their manual. In recent years, it started to seem that I was dealing with the "no patent office," instead of the Patent Office.This blog post is not about the problems with the patent system, however. The reality is that the patent system is

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Your Company Does Have the Resources to Hire Seasoned In-House IP Business Counsel

by Jackie Hutter, IP Strategist

In today's business world, forward-thinking business leaders at small and mid-sized companies understand that they must develop and deploy IP strategies that will grow their company's intangible asset base. As an IP Strategist and owner of an IP strategy and consulting service (more info here: www.jackiehutter.com), I know that to accomplish this bold objective, the first question must necessarily be whether the company should hire someone as permanent in-house IP counsel, or whether they engage outside IP counsel on an ongoing basis. Regardless of which option they choose (and they realize they must choose), the result for the company is significant expense in the form of headcount cost and/or outside counsel legal expense. Let's assume that your company has decided to take the plunge and engage either in-house or outside counsel to direct and deploy a business-focused IP strategy. How do you know who to hire if you know little

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Do You Have the Right In-House IP Legal Team to Successfully Execute Your Business Plans?

by Jackie Hutter, IP Strategist

As a leading business strategist, you understand that your company must “innovate or die.” In embracing this philosophy, you realize that intellectual property (“IP”) strategy is critical to your ability to successfully execute your company's business plans. You also realize that your company's IP constitutes a business asset that can (and should) be monetized, traded and sold, just like any other asset. And, like other assets, the goal should be to maximize these assets. Accordingly, you consider IP to be a critical aspect of your company's business plans. Unfortunately, the people that manage your IP assets, that is, your in-house IP legal team, may not be eager to introduce innovations into the IP management process that can significantly increase IP asset value. Your company may therefore be leaving significant “money on the table” because you do not have the right IP legal team in place. I am now an IP Strategist and

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Intellectual Property Strategy Consultants: A New Model for the Small to Mid-Size Corporation

by Jackie Hutter, IP Strategist

As a business leader in a small to mid-sized corporation, you know that businesses such as yours are increasingly looking toward intellectual property as a means to generate assets. This is not surprising because it is estimated that less than 15 % or greater of your corporation’s value today is situated in its tangible assets. (See for example, http://www.ipfrontline.com/depts/article.asp?id=3674&deptid=3) Not all of this intangible value is located in your patents, off course. Indeed, your corporation may not even own any patents today. But if your organization extracts measurable value from proprietary technology or products, corporate value is heavily reliant on your patent and intellectual property strategy. That is, if your corporation’s technology and/or products are valuable, another company is likely to want a piece of the action, which, will result in erosion of your sales and profits. If this is the case for your corporation, you may be wondering

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Patent Strategy Could Be Essential to Your Private Equity Business Plan

by Jackie Hutter, IP Strategist

A friend of mine recently joined a small, privately-held consumer product company as its innovation manager. The company, which I will call "Cool Stuff," is owned by a private equity firm. The private equity firm purchased Cool Stuff about a year ago. Cool Stuff was essentially an established “mom and pop” company with a core product line. Cool Stuff has a couple of manufacturing facilities, but the primary value of the company is its relationships with existing customers (such as department and grocery stores) that will make it possible for new products to gain shelf space in department stores. The private equity company's payback model centers on growing the sales of Cool Stuff by introduction of several innovative and differentiated new products (hence, the reason for hiring my friend). After these products are shown to provide sustainable profits for Cool Stuff, the private equity firm plans to sell Cool Stuff and

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