Monday, June 3, 2013

Luxury Strategy for IP?

According to U.S. Department of Commerce research "Intellectual Property and the U.S. Economy," IP-intensive industries accounted for 27.1 million American jobs (18.8 percent of all employment) and about $5.06 trillion in economic value added (34.8 percent of GDP) in 2010. According to WIPO study, the global IP market was worth $180 billion in 2011. As a part of the Europe 2020 Strategy for jobs and growth, European Commission’s Innovation Union launched several initiatives to encourage IP ‘valorisation’ exploiting hidden value in IP. Newly started President Park’s government insisted the important of IP for the sustainable economic growth of S. Korea and its commitments to support the formation of IP ecosystem.

Considering the level up of IP status in individual companies, industries, and nations as described in the above, isn’t it a time to think about IP strategy as a strategy for main stream business management? How about applying “System Dynamics” to formation of virtuous cycle for integrated strategic IP management (*ISIPM consists of IP strategic planning, IP creation & portfolio management, IP exploitation, and IP governance). How about applying “Technology Assimilation & Ecosystem Evolution” to developing new method for exploiting under-used IP? How about applying “Disruptive Innovation” to IP for protecting and detecting emerging disruptive businesses? How about applying “Blue Ocean Strategy” to developing new IP BM for exploiting hidden value in IP?

Are they still luxury for IP?

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