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Past President of LES Scandinavia

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1 Past President of LES Scandinavia
Kari Sipilä Director, D.Sc.(Tech.)h.c. FUTURE INNOVATIONS Past President of LES Scandinavia Former Director of the Foundation for Finnish Inventions Espoo, Finland FROM INTELLECTUAL PROPERTY TO BUSINESS ASSETS Damascus © Kari Sipilä

2 KARI SIPILÄ IN THE FIELD OF INNOVATIONS
Dr. Kari Sipila is a citizen of Finland and has graduated at Helsinki University of Technology. He is Executive Director in a consulting company Future Innovations, which is specialized in management and innovation development activities. He is a consultant to SME companies, to WIPO, EPO and to some other international organizations in the fields of intellectual property and innovation policy, development and commercialization. He is also the Immediate Past President of LES Scandinavia - Licensing Executives Society of Scandinavia, a member in the Finnish Academies of Technology and a former member of the Board of The Finnish Technology Award Foundation. He has been in Executive Director of the Foundation for Finnish Inventions, a non-profit Innovation Center, which promotes, finances and assists in IPR, developing and commercialization of Finnish innovative products. Earlier he has been Director in a bank and in domestic and international companies in Finland, USA, Switzerland and Saudi Arabia. © Kari Sipilä

3 © Kari Sipilä www.futureinnovations.fi
CONTENTS Innovation experiences from Finland From inventions to innovations and to business assets Management of Intellectual Property ( IP ) Valuation of IP assets Influences of innovation activities © Kari Sipilä

4 THE SIGNIFICANCE OF INVENTIONS
Business Entrepreneurship Competitiveness Internationalization Employment IDEAS INVENTIONS INNOVATIONS © Kari Sipilä

5 INVENTIONS AND INNOVATIONS
ARE THE CORNERSTONES OF SUCCESSFUL COMPETITIVE PRODUCTS AND BUSINESS REFORMS © Kari Sipilä

6 INNOVATION EXPERIENCES FROM FINLAND
© Kari Sipilä

7 THE WORLD – AND GLOBALIZATION
© Kari Sipilä

8 © Kari Sipilä www.futureinnovations.fi
REPUBLIC OF FINLAND Member of European Union 5.2 mill. inhabitants Area km2 Capital Helsinki GDP euros ( USD ) 20 universities Modern industries and innovations Information technology Metal Wood, paper, pulp One of the most wired and wireless nation in the world The world’s leading innovator in mobile phones and telecommunications Home to the world’s most developed electronic banking system The world leader in forest products, pulp, paper and board technology HELSINKI © Kari Sipilä

9 FIELDS OF INNOVATION AND TECHNOLOGY POLICIES IN FINLAND
EDUCATION, KNOWLEDGE AND KNOW-HOW PRIVATE AND PUBLIC R&D AND ITS FINANCING COOPERATION BETWEEN PUBLIC AND PRIVATE SECTORS DEVELOPMENT OF EXISTING AND NEW SECTORS FOCUS ON AREAS OF SPECIFIC EXCELLENCE INTERNATIONAL COMPETITIVENESS © Kari Sipilä

10 RESULTS FROM INNOVATION ACTIVITIES IN FINLAND
HIGH RATINGS IN INTERNATIONAL COMPARISONS LIKE IN COMPETITIVENESS RESEARCH AND DEVELOPMENT ( R&D ) PATENTING HIGH TECHNOLOGY UNIVERSITY-COMPANY COOPERATION FINLAND IS ABOVE EU’S AVERAGE RATINGS © Kari Sipilä

11 © Kari Sipilä www.futureinnovations.fi
(Source: NBPR) © Kari Sipilä

12 © Kari Sipilä www.futureinnovations.fi

13 FROM INVENTIONS TO INNOVATIONS AND TO BUSINESS ASSETS
© Kari Sipilä

14 © Kari Sipilä www.futureinnovations.fi
KEY ELEMENTS IP Creation Strategy, Policy Impact Recognition Portfolio Management Value Extraction © Kari Sipilä

15 INTELLECTUAL PROPERTY ( IP ) POLICY
1. Types and role of intellectual property (IP) 2. Management and organization for IP 3. Making and acquisition of inventions 4. Rewards 5. Instructions on utilizing patent information 6. Instructions to secure and maintain patent protection and protecting the corporate patents 7. Portfolio management, follow up, business 8. Values of IP 9. Licensing behavior ( out and in ) 10. Infringements 11. Publication policy © Kari Sipilä

16 FIELDS OF INVENTIONS AND INNOVATIONS
TECHNOLOGICAL STRATEGIC BUSINESS SOCIAL COMBINATIONS © Kari Sipilä

17 HOW TO START THE INNOVATION PROCESS?
Get familiar to possibilities and practice of Intellectual Property ( IP ) and Interrectual Property Rights ( IPR ) IP is creating something new ( inventions, trademarks, copyrights, trade secrets and other forms of IP; research and development; think: who, where and how ) Would IPR be useful to your company? Arrange the IPR information, encouragement, organization and financing in your company Start the innovation and IPR policy work Get familiar with others in the field of IPR Do not get disappointed with the first problems! © Kari Sipilä

18 © Kari Sipilä www.futureinnovations.fi

19 RIGHT FROM THE BEGINNING AN INVENTION
MUST BE CONSIDERED AS A BUSINESS OPPORTUNITY ! © Kari Sipilä

20 FROM IDEAS INTO PRODUCTS ON THE MARKET
EVALUATION, PLANNING PATENTING PRODUCT DEVELOPMENT COMMERZIALI-SATION KNOW-HOW AND FINANCIAL RESOURCES ADD VALUE © Kari Sipilä

21 MODERN PRODUCT SAVES TIME AND DEVELOPMENT REQUIRES CO-OPERATION
IDEA PRODUCT DEVELOPMENT PRODUCT MANUFACTURING SALES IDEA DEVELOPMENT POTENTIAL MARKETS COMPETITION NEW PRODUCT TO MARKETS MARKETING IPR, PRODUCT DEVELOPMENT MANUFACTURING © Kari Sipilä

22 INTELLECTUAL PROPERTY AND BUSINESS ASSETS
Intellectual property often forms the basis for business assets corporate development growth international expansion © Kari Sipilä

23 INNOVATIONS REQUIRE EXPERT KNOW-HOW
IN MANY AREAS MANAGEMENT INTELLECTUAL PROPERTY RIGHTS INNOVATION PROCESS PRODUCTION DOMESTIC AND INTERNATIONAL MARKETING COOPERATION SKILLS © Kari Sipilä

24 INTELLECTUAL PROPERTY MANAGEMENT AND VALUATION
© Kari Sipilä

25 INTELLECTUAL PROPERTY IS A PART OF COMPANY´S BUSINESS ASSETTS
Market value Adjusted Shareholders´ Equity Financial Capital Intellectual Capital Customer Capital Organizational Capital Human Capital Customer Base Process Capital Base Value Customer relationships Corporate culture Relationship Value Customer Potential Innovation Capital, IPR Potential Value © Kari Sipilä

26 EXAMPLE OF A STRONG USE OF IPR
Patent(s) for product(s) Patent for manufacturing method Corporate trademark Product trademark(s) Copyrights Trade secrets © Kari Sipilä

27 MEASURING THE INFLUENCE OF INTELLECTUAL PROPERTY ASSETS
QUANTITY AND QUALITY OF PATENTS, TRADEMARKS, COPYRIGHT AND OTHER IP RESEARCH AND DEVELOPMENT WORK OR PROJECTS AND ITS PERCENTAGE OF TURNOVER COOPERATION WITH UNIVERSITIES OR RESEARCH INSTITUTES CUSTOMER CONTACTS GENERALLY AND ALSO FOR LICENSING AND TECHNOLOGY TRANSFER VALUE ADDED PER PERSON INNOVATION POLICY AND ITS FULFILMENT BUSINESS SUCCESS, MAKE-OVER RATE, OR THE ABILITY TO INTRODUCE NEW PRODUCTS AND THEIR SHARE OF TOTAL SALES DOMESTIC AND INTERNATIONAL REPUTATION © Kari Sipilä

28 © Kari Sipilä www.futureinnovations.fi
WHY IP MANAGEMENT ? 1. To focus The IP based business Competitors and partners 2. To get Knowledge Fresh ideas 3. To develop The niche and best business areas 4. To manage All intellectual property © Kari Sipilä

29 IP NEEDS ACTIVE MANAGEMENT 1 (2)
The management of the company has the central role in the strategy and policy work, also in the IP policy The goal is to get the best use of IP to improve the business and competitiveness of the company The IP organization has the responsibility of the fulfilment of the IP strategy in the company The size and form of the IP organization may vary depending on the company © Kari Sipilä

30 IPR NEEDS ACTIVE MANAGEMENT 2 (2)
The IP organization activates and coordinates the innovation work inside the company, evaluates the need of the resources and follows the budget IP management has to follow the latest developments in the IP field It is in charge of education of IP matters in the company It may also be a business unit in IP matters, in cooperation with other business units of the company © Kari Sipilä

31 IP MANAGEMENT IN A SMALL OR A START-UP COMPANY
© Kari Sipilä

32 IP MANAGEMENT IN A SME COMPANY
© Kari Sipilä

33 IP MANAGEMENT IN A LARGE CORPORATION
© Kari Sipilä

34 © Kari Sipilä www.futureinnovations.fi
VALUE OF A PATENT OR INTELLECTUAL PROPERTY ASSETS VIEWED FROM DIFFERENT PERSPECTIVES The inventor’s perspective The inventing enterprise’s perspective The lisensor’s perspective The licensee’s perspective Social and perhaps global economic perspectives © Kari Sipilä

35 VALUATION METHODS TO CALCULATE THE VALUE OF IP
Cost Approach - based as realised costs or by comparing costs of a similar patent or product Market Approach - based on selling or buying of patents, comparing similar technologies or products Income Approach - based on a licensed IP and estimate of future cash flow over time, including estimates of success and risks. Popular method. Other methods - Business Results Method is based on calculated or estimated cash flow and revenues of business and estimated role of the patent in it. This value changes according to time and business. It may also include the influence of goodwill or value of other IPR - Monte Carlo is a simulation method. © Kari Sipilä

36 VALUATION IS ONLY AN ESTIMATE
Remember that all methods give only estimates It is good to use at least 2 methods Think and check the real possibilities of your product or company in the competition situation Do not select estimates of price, profit, markets, time, interest rates and risks too positively Valuations are only a starting point in business or licensing negotiations © Kari Sipilä

37 INFLUENCES OF INNOVATION ACTIVITIES
© Kari Sipilä

38 © Kari Sipilä www.futureinnovations.fi
MAIN RESULTS TO A NATION FROM SCIENCE, TECHNOLOGY AND INNOVATION ACTIVITIES Economic growth and social development The welfare of the nation and the citizens Successful and competitive domestic and international companies New entrepreneurs and innovative products Good employment Possibilities for good education, science, research and development activities and to continuation in the forefront of technology © Kari Sipilä

39 INNOVATION ACTIVITIES HAVE LARGE INFLUENCES
Children and students are more interested in sciences and mathematics Universities and companies are active with their innovation and patenting strategies and policies The government recognizes the needs for changes in technology and innovation policies More human efforts and financial resources to research and development activities Number of patent applications, new products and innovative entrepreneurs grow Many innovative companies seem to be more profitable than others With success of innovative companies, different interest groups get profit or revenues - Taxes to government and municipalities - Dividends to shareholders - Business opportunities to subcontractors and service companies - More employment - Innovative enterprises pay often higher salaries Active R&D turns into company´s intellectual capital and means more highly educated personnel Good and innovative products to customers New technologies support a renewing society © Kari Sipilä

40 TRENDS IN INTELLECTUAL PROPERTY ( IP )
Strong growth in awareness of IP and its possibilities in corporations, universities and also on political levels internationally Globalization requires continuously new skills and education, because the competition is worldwide Increased complexity in all technology, especially in information technology, communications, etc. The field of IP widens and offers more possibilities to business More new positions for IP staff and management More companies active in IP – also more competition © Kari Sipilä

41 © Kari Sipilä www.futureinnovations.fi

42 Kari Sipila, Helsinki/Espoo, Finland
THANK YOU! Kari Sipila, Helsinki/Espoo, Finland © Kari Sipilä

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