For any new product development project, it’s important for the R&D team and IP team to work together. However, the reality is that collaboration between the two departments can be very difficult as they come from different worlds. R&D are often risk takers but IP teams are usually more risk averse. What I wanted to find out is what the major barriers to R&D and IP team collaboration are - and how they can be avoided.
I had the pleasure of interviewing Liz Ward, Principle of Virtuoso Legal, a boutique IP firm. If there’s any law firm that understands the holistic view and strategic use of intellectual property, it’s them. Although Virtuoso is a small boutique IP firm, they have outcompeted large magic circle firms by wining second place for ‘IP team of the year’ at The Lawyer Magazine Awards 2017.
R&D budgets are large, with some of the top R&D intensive companies spending $680 billion (£536 billion) in 2016. Yet a recent report by Forbes revealed that most product launches fail at 80% and only 4% get a return on investment. How can companies succeed with R&D projects when the odds are stacked against them?
Research has shown that one surprisingly simple strategy can reduce the failure rate of R&D. What's the secret? Improve collaboration.
Collaboration is key because it enables sharing of information at the early stages of a project. This helps teams communicate which projects to focus on rather than spending time and resources focusing on different objectives.
Welcome back to PatSnap Weekly. This week there have been significant advancements in IP, with a new ruling by the US Supreme Court in Lexmark International v Impression Products. Elsewhere, the world's largest plane has been revealed, with a wingspan larger than a football field.
This week, there have been medical advances with the first ever stem cells produced from human blood, as well as the successful 3D printing of ovaries that have produced healthy mice. Elsewhere, China has broadened its software patent guidelines—could this mean more US software companies filing patents there?
Welcome back to PatSnap Weekly. This week there have been significant technological advancements in medicine from AR goggles for surgeons to battery free implantables.
As the food industry is getting more sophisticated to meet consumer demand, so is the technology producing it. From innovative manufacturing processes to household consumer goods, innovative solutions are reflected in all aspects of this industry.
Welcome back to the first PatSnap Weekly after the bank holiday. Although it’s only been a four day week, a lot has happened with advancements in medicine, tech and IP.
With global retail sales of $4 trillion (£3.1 trillion) annually, food and beverage is one of the largest sectors in the world - the top 50 food manufacturers account for 20 per cent of global packaged food retail sales1. Food conglomerates and FMCGs regularly develop innovative food products to provide consumers with easy cooking and eating choices. Whether it’s Uncle Ben’s Rice, Heinz Ketchup, or Twinkies, there are iconic favourites in every household.