Dynamic Tools for Innovation Management
Managing Intellectual Property: Maximizing the value of your IP
Intellectual property is an asset. It has financial and operational value. As such, it needs to be protected just like all other important assets. This includes protection from theft, loss, neglect, and misuse. More importantly, it is up to everyone within a company to derive the maximum value from its intellectual property assets. While companies may have different criteria for evaluating IP, it is essential to apply standard processes to ensure that intellectual property assets are being managed in a consistent manner. In the unfortunate event that you become embroiled in costly litigation, you can take comfort in knowing that your IP records have been authenticated for admissibility during trial.
Introducing InnovationQ
Many companies struggle with managing intellectual property. This is typically attributed to error-prone human processes, inefficient collaboration, no centralized resources, inability to obtain metrics and discern trends, required behavioral changes, and many other obstacles. InnovationQ automates and streamlines common processes and functions related to IP management; this makes following policies and processes easy (increasing compliance) and secure.
InnovationQ has been designed specifically to solve the following application demands:
Invention Review Process
A steadfast invention review process is critical to the success of any innovative company. These steps help to minimize human error, encourage informed and better decision-making by those involved, and ultimately accelerate the monetization of the IP assets.
Trade Secret Management
Establishing and managing trade secrets effectively allows a company to: prevent competitors from using the technology, sue for theft damages, prevent former employees from taking the invention to a competitor, and prevent unlawful disclosure of the trade secret
Publication Clearance System
A publication clearance system ensures that all relevant documents have been reviewed and approved by the proper technical and legal personnel prior to outside publication. Applying consistent document processing is a critical component of effective IP management.
R&D Collaboration
As we rapidly move from paper to electronic records, an R&D Collaboration system can be a powerful tool for scientists and engineers. Documents can instantly be shared across departments and locations, they are date-stamped, archived, and categorized for easy retrieval. Additionally, it allows for automated invention scanning/scrubbing by technology managers.
In blog posts over the next four days, we'll look at each of these areas in more detail.
InnovationQ Features
1. The Workflow Engine - The Workflow Engine is software that implements a document workflow process. Workflow processes are standard paths that a document is passed along for review and approval. These can be configured to meet more specific needs. Convenient options to delegate your responsibility or seek consultation on a specific document are available.
2. A Document Repository - A software platform that stores and organizes documents. It includes the following features:
- Document storage and multi-categorization
- Full text search
- Document event tracking
- Document event alerts
- Reports of user and document activity
3. Collaborative Innovation - The Collaborative Innovation Module provides customers with the ability to send documents to other members of their team for comment and revision. It facilitates innovation through structured collaboration.
4. Roles-based Access Control – Administrators can develop different sets of permissions, or rules, which govern what a user (or groups of users) can do within the system.
5. Automated Invention Scanning/Scrubbing – Enables companies to rapidly align and evaluate technologies for consideration of further investment.
6. Integrated Prior Art Searching – Seamlessly search peripheral databases including IP.com’s Prior Art Database, U.S. patents and patent applications.
7. Legal Safeguarding – All documents loaded into the InnovationQ system are automatically date-stamped and digitally fingerprinted for verification.
