Economic policy - IP commercialization as a stand-alone discipline

Below is my opinion piece from Innovation Magazine published by the Irish Times, reproduced with permission:

We need to develop a specialised competency in commercialisation to build this route to the market

HOLLYWOOD has perpetuated the myth that any inventor with a patent is on the road to great riches.

In the UK, James Dyson is a poster-boy for inventors. Many see him as the man who struck it rich with a vacuum cleaner that he started manufacturing in 1993. The romantic image is one of overnight success.

Innovation Dublin 2010

Last week, as part of the Innovation Dublin 2010 festival, I was invited to give a lecture to the MBA class at Michael Smurfit Graduate Business School.

I spoke on the topic of IP commercialization with the title "Invention or Innovation?"

The case for commercialization

I was asked to write an opinion piece for Ireland's Sunday Business Post with the title "Working smarter, not just harder" making the case for IP commercialization a key element of the Smart Economy strategy.

The edited version is a bit sanitized, but the main message gets through.

As always, I welcome and enjoy your feedback.

Blinding flash of light - why people don't "get it"

Why have they not “got it”?

In a post at the end of last year, I wondered why I had got it wrong. I searched for reasons for companies not jumping into IP commercialisation.

However, there is another explanation of why governments, policy makers and even sophisticated companies have not “got it”.

First let me set the scene:




Often I have quoted the Ned Davis Research that found that in 1975, 16.8% of the market value of the S&P 500 companies was attributable to intangible assets. By 2005, the ratio had grown to 79.7%. This is an impressive change in economic structure over a relatively short period.

But the story does not stop there.

What a typical patent licensing company does

In a previous posting, I talked about a standalone intellectual property commercialization unit. This post gives examples of the typical skills and activities involved in a patent licensing company. It can equally apply to other forms of IP, such as copyright and trade marks.

University research as the seed?

You have to love Chris Horn

Chris Horn is continuously working to promote innovation as a strong component of future economic development. This is not just theoretical discourse. When he speaks he carries the authority of one has proven himself to be phenomenally successful at bringing innovation to the commercial world.

Ten reasons for a separate IP commercialization business unit

In the past 2 years, there has been a strong movement among corporate IP professionals to promote the office of Chief Intellectual Property Officer (or CIPO). I understand the reasons for this. I also support the move to shine the spotlight on intellectual property management and to give it a central role in firms.

However, I know it is going against the tide of my colleagues in the industry to suggest an alternative structure to centralization of the management of IP.