Intellectual assets are the primary drivers in each sector that impacts our lives – the economy, health, energy, and security. The problem is that today, roughly four percent more IP is stolen than gets licensed; this amounts to US$1 trillion/year in the USA alone. The amount is similar in many developed countries. Meanwhile, 30 percent of all R&D is wasted reinventing what has already been discovered. Have we been just wasting money funding research?
IP is the largest asset class in the world – generally accounting for 87% of organisational value. Most organisations are leaving this asset class sorely under-exploited. Trade in intellectual assets has 12.7% compound annual growth rate (worldwide IP royalty payments), has near zero correlation with other asset classes and still accounts for less than 1% of overall trade. While there is very little management of IP (less than five percent of organisations use any kind of IP management tool), there is even less agreement on the best practices for managing IP.
Aimed at IP Management Practitioners, in this and the next nine fortnightly seminars we examine the challenges and measures to be taken so that research and inventions have maximum impact on financial statements and economic conditions in general.
The Innovation webinar series presented by Ideation in collaboration with IEEE UK and Ireland Section comprises 25 free seminars where you may earn CPD hours. The series explores best practice in managing intellectual assets and includes sessions with topics for innovators, practitioners, and advanced IP managers.
Attendance is by prior registration. The course capacity for this is limited to 100 participants, and the places will be allocated on a first registered and acknowledged basis.