WHAT IS PATSNAP

How to build a superstar R&D team, according to the former VP of R&D at Medtronic

Every innovative company wants its inventions to lead the pack (and market). But to get there, you need to build an R&D team with the right balance of skills and aptitudes. According to the VP of Innovation and R&D collaboration at Thermo Fisher Scientific, “one of the biggest challenges in coming up with next generation technology is finding the right talent to do so.”

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4 strategies R&D leaders can use to justify a budget increase

Establishing a budget for R&D projects can be difficult because there are so many known and unknown factors to consider—such as, employees (talent pool), equipment, the market and competitive patents. According to Inc., many R&D projects exceed budgets with disastrous consequences, and measuring technical progress and completion of milestones is generally more important than measuring expenditures overtime.

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Managing your patent portfolio in spreadsheets is a bad idea

Although spreadsheets are convenient for monitoring a company’s finances or creating a mailing list, you may want to switch to something more efficient when it comes to managing a large patent portfolio. Even Microsoft has stated that using Excel as a general purpose business management tool isn’t a good idea. Multi-user access is challenging, the smallest input error can have massive consequences, it’s difficult to control access to data and integrating Excel with other applications can be a nightmare. 

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5 tried-and-true steps to increase the ROI of your patent portfolio

Intangible assets, such as patents, are essential to a company’s financial performance and CFOs are increasingly giving patents more importance on a company’s balance sheet.

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5 signs you should scrap your patent

Abandoning patents is necessary for companies that manage large portfolios, with thousands of patents. Some patents aren’t valuable anymore, yet remain hidden in a large portfolio, adding to your yearly renewal fees. According to Manny Schecter, Chief Patent Officer at IBM, abandonments can contribute to, rather than jeopardise the pursuit of high quality in the patent system. Research also suggests that companies with the largest portfolios, like IBM, abandon the most patents.

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Increase revenue and enhance strategy by learning the value of patent valuations

 

For most businesses today, 75% of their value, sources of revenue and long term sustainability is directly related to IP and intangible assets. Companies traditionally file multiple patents as part of a defensive strategy to beat their competitors and achieve or retain a monopoly. However, filing patents without a strategic plan can lead to a mixed bag of patents in your portfolio— some valuable, and some much less so.

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Your R&D might be worth more than you think, thanks to innovation incentives

Most businesses underestimate what they can claim from innovation incentives. According to the Telegraph, 40% of active companies in the UK generate some form of innovation, yet most business owners have no idea that they qualify for R&D tax credits.

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Enhance your innovation cycle by knowing customers, competitors and collaborators

Research by CEB reveals that the top priority of R&D leaders is to beat competitors to market with big innovations—but 90% of them also believe their pipelines are slow at turning ideas into successful products. According to the same research, R&D managers report that one third of their projects are behind schedule. Enhancing the innovation cycle is not just about speed to market, it’s also about ensuring your product is profitable so that R&D resources aren’t wasted.

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UK Government explains how it’s tackling IP crime in latest report

During 2016, over 2 million suspected infringing counterfeit goods were detained by border force. IP crime not only impacts the UK economy but also undermines legitimate businesses who work hard to innovate.

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Imperial College professor outlines key considerations when outsourcing IP management

I had the pleasure of interviewing Ian Harvey, Chairman of the IP Centre Advisory Board of Tsinghua University x-lab and adjunct professor in intellectual property (IP) at Imperial College Business School. Ian has a wealth of experience in IP and and was the former CEO of BTG, where IP management was at the core of their business. IP matters were handled in-house however, in this interview, he tells us what to consider when outsourcing IP.

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