SIAM: A SaaS Solution Transforming IP Strategy and Management
Intellectual Property (IP) has become a critical asset in today’s business landscape, as intangible assets comprise more than 90% of the S&P 500’s market value. Patents represent over 30% of that value, yet many US companies still lose $1 trillion+ of opportunities annually in the US alone. The problem lies in the mismanagement, misunderstanding, and underutilization of patents. To address this issue, Erich Spangenberg founded IPwe in 2018 to transform IP decision making. Erich is a true IP visionary and a leading practitioner in patent monetization. Erich saw the potential of blockchain, particularly NFTs, to address the friction and inefficiencies still present with patent transactions. IPwe’s SaaS solution, Smart Intangible Asset Management (SIAM), was launched to solve these frictions. SIAM is a game changer for companies with significant IP and R&D investments. It provides a new IP management solution that helps companies maximize patent value.
Why Companies Need New IP Management Solutions
In today’s high octane business environment, companies must have a strategic IP approach to gain a competitive edge. Traditional SaaS solutions, while helpful for administrative tasks such as patent filings, can, unfortunately, limit a company’s full potential to capitalize on the intrinsic value of its IP.
To truly exploit their IP, companies should opt for new IP management strategies and KPIs. An adept IP strategy should take into account a myriad of factors: current market trends, competitive dynamics, as well as the unique strengths and potential vulnerabilities of the portfolio. With SIAM, companies can transcend the traditional defensive stance in IP management, pivoting towards a more forward thinking strategy. For instance, SIAM allows companies to accurately quantify their IP assets’ value, potentially unveiling new avenues for revenue generation. Moreover, it helps identify promising licensing opportunities and patent pools, thereby optimizing their IP portfolio management.
SIAM also aids in product development by helping companies differentiate themselves from their market competitors. Companies can thus harness their IP assets, fuel innovation, and yield significant revenue by executing a well thought out IP strategy.
IPwe’s SaaS solution, SIAM, equips companies with actionable insights to craft an effective IP strategy. This in turn maximizes the value derived from IP, empowering companies to stay ahead of the competition.
Beyond “How Many Patents Do We Have?” with IPwe’s SaaS Solution
Measuring the success of an IP strategy solely based on the number of patents owned can be an insufficient approach. IP value can be better understood by assessing various factors, such as commercialization potential and market trends. A comprehensive IP strategy that aligns with the company’s business objectives is essential. By adopting new KPIs, companies can finally unlock strategic IP decision making.
New IP Management KPI: What Is My IP Worth?
To go beyond the sole KPI of “how many patents do we have?” companies need to adopt new KPIs. For example, the KPI, “What is my IP worth?”. This KPI allows companies to have an objective, standardized benchmark for referenceable comparisons of their IP’s value—their patents’ dollar value. Knowing this dollar value enables companies to assess their IP on a patent by patent and portfolio wide basis, providing a path toward monetization.
New IP Management KPI: How Is My IP Performing?
To assess their progress toward their IP strategy goals, companies can leverage analytics to answer the question, “How are we doing?”. Peer and competitor comparisons can provide valuable insights into the market value and potential of their IP. This can be done by identifying value driving assets and patents that provide a competitive advantage or significant licensing potential. Real time portfolio tracking and projections can also help companies adjust their IP strategy to optimize their value. By adopting a comprehensive approach to IP management and utilizing new KPIs and analytics, companies can maximize the potential of their patents and generate revenue.
SIAM’s analytics generate real time, objective metrics and provide companies with asset and portfolio wide financial valuation benchmarks. Ultimately giving companies simple, consistent, relevant financial and performance metrics to further innovation and compare their IP against peers.
New IP Management KPI: How Many Opportunities Do We Have?
For a deeper understanding of untapped IP potential, companies can use a new KPI: “What can we do with our patents?”. This unique KPI allows companies to find and assess revenue generation paths. It focuses on their IP portfolio’s future, instead of only focusing on “How many patents do we have?”.
Companies can analyze current market trends with this KPI. They can also scrutinize their portfolio’s strengths and weaknesses. Plus, they can estimate commercialization potential. This way, they can uncover hidden opportunities to exploit their IP instead of letting underutilization flourish.
These new KPI guides companies to fruitful strategies. It helps them determine the best licensing strategies or partnerships. The goal is to maximize their IP value. By adopting a holistic approach to IP management, companies can boost their revenue. This shift in IP KPIs moves away from traditional IP decision making. The new focus is on capitalizing on every opportunity within a company’s IP portfolio, instead of focusing on “how many”.
Conclusion: Revamp Your IP Decision Making with IPwe’s SaaS Solution
General Motor’s Smart Intangible Asset Management Dashboard
Effective IP management has emerged as a vital business strategy. However, traditional practices often constrain companies from unlocking the full potential of their portfolios. IPwe’s SIAM, an AI and blockchain powered SaaS IP management strategy terminal, offers a transformative solution. It equips companies with crucial data, analytics, indices, and tools to enhance their IP into a high value asset in the digital, Web 3.0 world. SIAM’s features, including peer analysis, financial and IP metrics, and future forecasts, provide companies with opportunities for revenue generation through licensing or asset sales.
Built on predictive analytic models, SIAM stands on a decade long foundation of proven strategies, supported by the world’s largest curated IP database. This coupled with a world class team, has led to the standardization of fundamental aspects of IP. Furthermore, SIAM allows the adoption of effective IP management KPIs, like “What are my patents worth?” and “What can we do with our patents?”, assisting in a deeper understanding of portfolio value and the identification of revenue creation avenues.
Regrettably, the current state of IP management often sees companies focusing merely on the quantity of patents, while ignoring traditional asset management metrics. SIAM addresses this by prompting a shift in focus towards the actual utilization of assets, enabling businesses to realize the true value of their patents. By integrating SIAM’s sophisticated patent data, companies can effectively formulate patent strategies, thereby driving innovation and revenue generation. Thus, SIAM emerges as the smart choice, providing the necessary tools for companies to accomplish strategic IP decision making.