The IP Rookie

In numbers alone the IP Rookie is the most common type of IP active firm. The IP Rookie is identified by a low degree of integrated IP management and a low degree of IP exchange orientation. These firms are commonly small or medium sized and they seldom consider IP as part of their business. Many IP Rookies are aware of the challenges and opportunities that lie in IP, but consider IP registration and enforcement as a complex and expensive process outside their scope. IP Rookies commonly operate as a manufacturing firm in an industry with little or no IP registration by competitors and are often market followers. Geographically, the IP Rookie tends to operate locally, producing and selling primarily in their home market. Operating as an IP Rookie may be appropriate for some firms, however they could derive a long-term benefit in developing their integrated IP management. Should the IF Rookie decide that IP ought to be part of their future business, the first step is to ensure that any IP activity is related to the firm’s overall strategy by formulating an IP strategy. Further steps include: the development of internal capabilities within IP; formalization of processes; and setting aside dedicated resources to IP related issues. Another approach to develop the work with IP for the IP Rookie is to start considering exchange of IP as a potential leverage. Seeking licensing opportunities might open new ways the firm can benefit from its W.