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Edison in the Boardroom: How Leading Companies Realize Value from Their Intellectual Assets

Book Description

Julie L. Davis and Suzanne Harrison

Today's corporations are always on the lookout for exciting new and innovative ideas that can be used to generate revenue. Up until recently, this meant taking these ideas and turning them into products or services, which could then be sold for profit. But today, a unique new concept is revolutionizing the way companies are getting value from ideas. Instead of incorporating them into products or services, today's innovations may be bartered, licensed or sold in the "idea" stage for tremendous amounts of money. For example, IBM currently receives well over $1 billion in revenue every year from licensing its intellectual property, unrelated to the manufacture of a single product. Today more and more companies are adopting this idea of turning their legal departments, where intellectual property is housed, from cost centers into profit centers.

Edison in the Boardroom: How Leading Companies Realize Value from Their Intellectual Assets takes an in-depth look at the revolutionary concept of Intellectual asset management (IAM). IAM is changing the way companies all over the world are doing business. In their careers as business consultants, the authors have been privileged to meet individuals who were clearly ahead of their time when it came to realizing value from their companies' innovations. Based on their interactions with the ICM Gathering--an international group of companies who meet several times a year to create, define and benchmark best practices in the area of IAM--the authors have compiled a wealth of knowledge and successful stories that illustrate how far businesses have come in their ability to leverage and monetize their intellectual assets.

Incorporating stories and teachings from some of the most successful companies in the worlds -- such as Hewlett-Packard, IBM, Procter & Gamble, Rockwell, Dow, Ford and many others -- the authors have made an exhaustive study of IAM and its implications for today's businesses. They have culled a hierarchy of best practices that today's companies can integrate into their own business philosophies to gain the best return from their intellectual assets.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Dedication
  5. FOREWORD
  6. ACKNOWLEDGMENTS
  7. Contents
  8. INTRODUCTION: THE EDISON PROPHECY
    1. A BRIEF HISTORY
    2. WHY INTELLECTUAL PROPERTY IS IMPORTANT
    3. THE EDISON MINDSET
    4. THE VALUE HIERARCHY
    5. THE INTELLECTUAL PROPERTY MANAGEMENT SYSTEM
    6. CONCLUSION
  9. CHAPTER 1: LEVEL ONE—DEFENSIVE
    1. WHAT LEVEL ONE COMPANIES ARE TRYING TO ACCOMPLISH
    2. BEST PRACTICES FOR THE DEFENSIVE LEVEL
    3. CONCLUSION: BUILDING BEYOND THE DEFENSIVE LEVEL
  10. CHAPTER 2: LEVEL TWO—COST CONTROL
    1. WHAT LEVEL TWO COMPANIES ARE TRYING TO ACCOMPLISH
    2. BEST PRACTICES FOR THE COST CONTROL LEVEL
    3. CONCLUSION
  11. CHAPTER 3: LEVEL THREE—PROFIT CENTER
    1. WHAT LEVEL THREE COMPANIES ARE TRYING TO ACCOMPLISH
    2. BEST PRACTICES FOR THE IP PROFIT CENTER LEVEL
    3. CONCLUSION: BUILDING BEYOND PROFITS
  12. CHAPTER 4: LEVEL FOUR—INTEGRATED
    1. WHAT LEVEL FOUR COMPANIES ARE TRYING TO ACCOMPLISH
    2. BEST PRACTICES FOR THE INTEGRATED LEVEL
    3. CONCLUSION: ON THE BRINK OF VISION
  13. CHAPTER 5: LEVEL FIVE—VISIONARY
    1. WHAT LEVEL FIVE COMPANIES ARE TRYING TO ACCOMPLISH
    2. BEST PRACTICES FOR THE VISIONARY LEVEL
    3. CONCLUSION
  14. CHAPTER 6: THE DOW CHEMICAL COMPANY: A CASE STUDY
    1. THE DOW CHEMICAL COMPANY: BUILT ON INVENTIONS
    2. THE JOURNEY FROM PATENTS TO INTELLECTUAL ASSETS
    3. THE JOURNEY CONTINUES: INTELLECTUAL CAPITAL MANAGEMENT FOR THE 21ST CENTURY
    4. THE ICM PILOT PROGRAM
    5. KEY LEARNINGS FROM THE DOW ICM PILOT IN POLYURETHANES
    6. THE FUTURE AT DOW IS INTELLECTUAL CAPITAL MANAGEMENT
  15. APPENDIX A: MINING A PORTFOLIO FOR VALUE
    1. UNDERSTANDING YOUR CLAIM: PORTFOLIO CATEGORIZATION
    2. WHAT TO LOOK FOR: MINING STRATEGIES
    3. VALUE EXTRACTION OBJECTIVES
    4. HOW TO MINE
    5. THE PORTFOLIO MINING PROCESS
  16. APPENDIX B: COMPETITIVE ASSESSMENT
    1. INTRODUCTION
    2. WHY PERFORM A COMPETITIVE ASSESSMENT
    3. COMPANY POSITION
    4. KEY INDICATORS OF NEED
    5. GENERAL APPROACH
    6. CONCLUSION
  17. APPENDIX C: INTEGRATED PERFORMANCE REPORTING
    1. 1. BACKGROUND AND OVERVIEW
    2. 2. A FRAMEWORK FOR EVALUATING INTEGRATED PERFORMANCE REPORTING PRACTICES AND CAPABILITIES
    3. 3. FINANCIAL PERFORMANCE REPORTING
    4. 4. OPERATIONAL PERFORMANCE REPORTING
    5. 5. INTEGRATED INDICATORS REPORTING
    6. 6. COMPARATIVE PERFORMANCE REPORTING
    7. 7. VALUE CREATION REPORTING
    8. 8. INTEGRATED PERFORMANCE REPORTING EVALUATION MATRIX: A CPRI SELF-ASSESSMENT GUIDE
  18. NOTES
  19. INDEX