The Licensing Executives Society International (LESI) – one of the world’s leading IP membership organisations – has today announced the release of three business briefings that offer practical advice to businesses looking to monetise their intellectual property.
Even as intangible assets grow ever-more important to businesses, research has revealed that almost 50% of small and medium enterprises (SMEs) do not consider IP to be a valuable investment. With COVID-19 throwing the value of IP into sharp relief, typified by the growing number of businesses pivoting to quickly apply their expertise to developing ventilators, the Briefings fill a crucial gap in the market – to advise high-growth businesses on critical IP considerations to protect their business as they strive to meet new business needs.
The effort, driven by Fiona Nicolson, a partner at the top-ranked law firm Bristows and president of LESI, the three Business Briefings are written with entrepreneurs and business executives in mind and offer practical advice on IP Management, IP Licensing and IP Valuation.
Available online, these Business Briefings were written by LESI members and experts from around the world, offering easy to read, practical business advice to help companies all of sizes enjoy maximum value from their innovations.
Fiona Nicolson, President of LESI, commented: “It ought to be a concern that, despite the clear evidence of intangible assets being of vital importance to a modern business, so few claim to see the value in IP. This is precisely why these briefings are some important and, in my capacity as LESI President, it is a situation I want to fix. After all, the challenges of Covid-19 has brought this all into an international focus, particularly in the healthcare sphere.
These briefings will help ensure that business people are well informed both in their engagement with IP professionals and also, most importantly, understand what needs to be done to maximise the value of their IP”.
Jim Malackowski, Founder and Chief Executive of IP Merchant Bank Ocean Tomo and a contributor to the Business Briefings, said: “These LESI Briefings are a helpful benchmark for best practice regardless of experience level. They can be incorporated into your practice ‘as is’ or used as a discussion guide and adapted to the nuances of your particular industry or circumstance.”
Don Drinkwater, a member of LES USA & Canada and Licensing Director of Bose®, who led the work on the IP Management Briefing, said: “The IP Management Business Briefing provides a high-level overview of current best practices to manage Intellectual Property. The Briefing discusses how your organization, regardless of size, can create value from its IP through both defensive and offensive opportunities. It also serves as a reference for IP professionals that might not have dealt with IP strategy issues for a period of time.”
Alfred Chaouat, a past-President of LES France and Vice President Licensing at InterDigital, who led the work on the IP licensing briefing, said “These briefings help you to create IP, to evaluate the value of this IP and to possibly license it, allowing then to create new IP, so they cover the full range of the IP virtuous circle. The licensing briefing addresses licensing strategy as well the key terms of a technology license agreement.”
The Licensing Executives Society International (LESI) is a not-for-profit association of 33 national and regional Member Societies comprised of men and women who have an interest in the transfer of technology, or licensing of intellectual property rights – from technical know-how and patented inventions to software, copyright and trademarks. It focuses on the business of IP and currently has around 9,000 members in 90 countries. LESI is strictly non-political and is free to grow by the creation of member societies throughout the world irrespective of politics or the state of technology development.
About the team who led the initiative
The team was headed by Karin Hoffman of Vienna University of Technology, Don Drinkwater of Bose® and Danie Dohman of Adams and Adams in South Africa. Key contributors also included Jim Malackowski of Ocean Tomo and Alfred Chaouat of Interdigital®.
About Fiona Nicolson
Fiona Nicolson is a partner at London-based law firm Bristows. She is an IP transactional lawyer, one of Scotland’s pioneering female legal brains, with many years’ experience in working with a large range of clients across many sectors Bristows IP-focusing lawyers have been involved with LESI for a long number of years and are keen supporters of the organisation in its aim to help businesses interested in the transfer or licensing of intellectual property rights. Fiona is the current President of LESI and is the first female President of the organisation from Europe in its 48 year history.