One of the other problems that these managers face is how to deal with IP assets that their enterprise is unlikely to use. Once obtained, patents can cost a significant amount to maintain. If they are left to fester in an IP asset portfolio, the liability to an enterprise can continue to mount with no return for the investment.
In the USA, you can solve this problem and get an immediate tax deduction by donating a patent to a university or public research organisation. It's a system that we'd love to see implemented in Australia and in New Zealand at some point, but until that happens, innovative enterprises down under simply have to hunt around for out-licensing opportunities. This can be time-consuming and a less than rewarding exercise.
One novel approach that has impressed us recently is Du Pont's Technology Bank. It's an initiative that makes information about Du Pont's non-key technologies available to potential licensees. Licensing terms are non-exclusive, but otherwise flexible. By all accounts, it's working well for Du Pont – not only does it reduce the deadwood in its portfolio, but the licensing income goes straight to the profit line at little or no cost.
If you know about any other approaches that efficiently resolve the deadwood issue, we'd love to hear about it - leave a comment.
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