How to manage Intellectual Property?
Open Innovation Intellectual Property – In a knowledge-based economy, it is essential to be able to protect industrial assets. Intellectual property rights are therefore essential for the proper development of a company and constitute a barrier in the event of industrial conflict. On the surface, Open Innovation, which is based on a system of sharing and exchange, would therefore constitute a threat to the competitiveness of the company. But in reality, it is more like two sides of the same coin, especially since it is now possible to combine information exchange and data protection thanks to blockchain technology!
Intellectual property and Open Innovation in companies: from exclusivity to complementarity?
Intellectual property takes different forms, including the filing of patents. As the World Intellectual Property Organization states, patents allow to :
- Establish exclusive rights that entitle your company to use the patented innovation for 20 years, but also to grant or sell the licence to a third party
- Provide a strong market position and increased bargaining power by reducing competition in your market and conducting cross-licensing
- Increase the reputation of your company as it will be recognised for its ability to innovate and develop new products or services
Yes, Open Innovation in business is possible!
But working with Open Innovation in business is perfectly conceivable if you accept its underlying notion of sharing while taking into account the intellectual property aspects. In 2019, WIPO observed for the first time in 10 years a declining number of patent applications, down by 3%, due to a decline in the number of applications filed by Chinese residents. But outside of China, patent filings rose by 2.3% globally.
For business, Open Innovation raises many questions, such as:
– How can I protect my company and my product without intellectual property rights?
– Is my company undermined by sharing a licence or intellectual property title?
Discover in this white paper how Open Innovation platforms coupled with blockchain technology contribute to the competitiveness of companies without the risk of squandering intellectual property.