IP management (IPM) involves visualising the company's intellectual assets, prioritising them according to the company's strategic direction and safeguarding them. To benefit fully from IP in terms of revenue, reputation and market share, it is essential to have proper IP management in place. There are two levels of approach, tactical and strategic, both backed by robust systems to manage different aspects of the business.
An IP is created and its ownership secured by acquiring appropriate protection. It is then exploited for commercial gains.
IPM principles are adopted within an eight-dimensional framework to ensure that the IP is exploited to its full potential.
How to develop your IPM capabilities
Step 1: Diagnose
The first step to implementing an IP strategy is to diagnose the state of its management in the company, much like a health check by a doctor. For this purpose, we have developed SCOPE IP™, a diagnostic tool that helps businesses assess the strengths and weaknesses of their IP deployment and IPM system.
Step 2: Develop
After undergoing a diagnosis, companies can decide whether to apply self-help treatment or to seek expert assistance, depending on the seriousness of the issues identified. Businesses can apply for funding support to implement the capability development recommendations from SCOPE IP™. This includes IP management activities such as licensing, IP valuation and audit.
Step 3: Deploy
The final step is to fully utilise these capabilities and internalise them into daily operations. It is never too late to adopt proper IP management. Interested companies can find out more from Intellectual Property Management (IPM) for Local Enterprises.
IPM for Internationalisation
If you are a local-based enterprise, and you are looking to take your operation into overseas markets, it is important to factor in strategies for internationalising your IP. We have devised a joint programme with International Enterprise (IE) Singapore that supports businesses in safeguarding their IP outside of Singapore.
A two-phased approach, the IP for Internationalisation Programme combines our SCOPE™ diagnostic tool with IE Singapore’s consultation services to help businesses:
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