UMIP ® UMIP - Reputation and value through intellectual property ® The assessment of...

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Transcript of UMIP ® UMIP - Reputation and value through intellectual property ® The assessment of...

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UMIP UMIP - Reputation and value through intellectual property The assessment of commercial viability UMIP The University of Manchester Intellectual Property Ltd Slide 2 UMIP UMIP - Reputation and value through intellectual property Overview The process we use Assessment criteria Trends at Manchester Benefits for researchers Case studies Slide 3 UMIP UMIP - Reputation and value through intellectual property A judgemental process Its not an exact science Seek quantitative and qualitative data Relies on experience UMIP people all have technology background Many industry background The process asks key questions Slide 4 UMIP UMIP - Reputation and value through intellectual property Activities Phase One Meet Academic(s) Information Gathering on: - Technology or Idea - Possible Applications - Stage of Development - Industry Links - IP Position - Research Funding - Academic Background - Publications Phase Two Search for Prior Art Assess Strength of IP [Arrange Independent Technical Assessment] Identify Products or Services Identify Customer(s) Validate Market Applications Conduct Market Analysis Define Benefit/Added Value Research Competitors Test Academic Commitment Phase Three Review Outcomes: EITHER: Reject, then Inform Academic(s) Signpost Elsewhere OR: Accept, then Allocate resource Phase Four Protect IP Define Commercial Plan Seek Funding (if required) Confirm IP Assignment Formalise Arrangements with Academic(s) Determine Milestones Timing: StartScreeningDecision If Yes Shaping (0 to 4 weeks)(+ 4 to 8 weeks)(within 12 weeks)( + 1 to 3 months from decision) Commercialisation Executive Business Manager Slide 5 UMIP UMIP - Reputation and value through intellectual property Stages of assessment Invention disclosure meeting Market People Technology Overall market size IP Ownership Unique selling proposition Route to market Technology confidence Liability issues Barriers to competition People Market inertia Nature of competitors Financial return Dependence on 3 rd party IP Market dynamics Further deeper assessment Initial assessment Slide 6 UMIP UMIP - Reputation and value through intellectual property General rule It generally takes much more effort to commercialise a technology that only has a modest set of ingredients than it does for one that has a strong set of ingredients Risks higher Fund raising more difficult Time to market longer Returns smaller Slide 7 UMIP UMIP - Reputation and value through intellectual property The balance Potential World value Perceived risk Likely effort/ timescale Slide 8 UMIP UMIP - Reputation and value through intellectual property Value and Risk: the balance Potential value Cost Perceived Risk HIGH Slide 9 UMIP UMIP - Reputation and value through intellectual property Some bad calls Slide 10 UMIP UMIP - Reputation and value through intellectual property We dont like their sound - groups of guitars are on their way out. Decca Records rejecting The Beatles, 1962 Slide 11 UMIP UMIP - Reputation and value through intellectual property I think there is a world market for maybe five computers. Often attributed to Thomas Watson Sr, in 1943 (later Head of IBM), Slide 12 UMIP UMIP - Reputation and value through intellectual property Who the hell wants to hear actors talk? Harry Warner, Warner Bros, 1927 Slide 13 UMIP UMIP - Reputation and value through intellectual property Other noteworthy mistakes Slide 14 UMIP UMIP - Reputation and value through intellectual property One from Microsoft Slide 15 UMIP UMIP - Reputation and value through intellectual property This might be one Palm Centro - a $99 entry- level smartphone Slide 16 UMIP UMIP - Reputation and value through intellectual property 1 Overall market size Spin-outs - big markets excite investors If the overall market is 1Bn then even a niche part of it could have significant commercial potential Licensing potentially higher royalty rates to be negotiated Slide 17 UMIP UMIP - Reputation and value through intellectual property 1 Overall market size Information gathering What is the full range of applications that the technology could be used for? Market reports Data on existing companies e.g. turnover Market validation Contact end users, distributors, industry insiders Slide 18 UMIP UMIP - Reputation and value through intellectual property 2 Unique selling proposition (USP) What are the features of the technology that would make it the technology of choice Function Cost Quality How novel/attractive would it appear to a user/customer? Is there a clear unmet need? Information gathering A thorough knowledge of the existing and emerging technologies Dialogue with end users/distributors/industry insiders Slide 19 UMIP UMIP - Reputation and value through intellectual property Unique selling propositions Slide 20 UMIP UMIP - Reputation and value through intellectual property 3 Route to market viability Is there a credible route to market? Existing distributor chains/outlets? If no, does setting up an appropriate route to market seem Sensible/affordable Information gathering Typical margins and overheads in existing distribution systems Identify key players assess what would motivate them to work with us make contact if appropriate Slide 21 UMIP UMIP - Reputation and value through intellectual property What would be the route to market? A low cost cancer imaging technology that has great value but all the existing players want to keep it out of the market A technology that enables electronic components and control switches to be woven into fabrics Slide 22 UMIP UMIP - Reputation and value through intellectual property 4 Confidence in the technology Do we have clear proof of concept? Function Scale up potential Clear understanding of the technical risks/downsides/limitations Information gathering Potential external technical critique, testing or evaluation A good understanding of the investment required to bring to the technology production. Slide 23 UMIP UMIP - Reputation and value through intellectual property 4 Confidence in technology How easily will the technology scale up Reproducibility? works every time in volume Cost of manufacture in volume environment Ability to manufacture with a commercially acceptable level of skill How confident are we that it can deliver the performance desired by the market Slide 24 UMIP UMIP - Reputation and value through intellectual property 5 Potential return on investment What is the ratio of gain to effort? Is it favourable? If so, is this likely to be achieved within an acceptable timescale (e.g. 5-7 years?) Time Effort Money Society benefit return Environmental benefit Economic benefit Slide 25 UMIP UMIP - Reputation and value through intellectual property 5 Potential return on investment Information gathering Potential business value Other potential benefits quantitative/qualitative Resources/effort required to commercialise Slide 26 UMIP UMIP - Reputation and value through intellectual property 6 People Commercialisation can be very time consuming and is not for everyone Key attributes of successful entrepreneurship Open minded Flexible style Focussed Tenacity Teamwork Slide 27 UMIP UMIP - Reputation and value through intellectual property 7 Barriers to competition Does a strong intellectual property position exist currently? Patents Know how Software If no, is there a good likelihood that strong IP will be developed from the work ahead? If no to both of the above Are there any other measures that could be taken to help the technology/product stay ahead of the competition Customer benefits Cost Information gathering Prior art searches of existing and potential future IP Identify Specific skills and expertise that are not replicated elsewhere Technology road map Can it be kept secret? Slide 28 UMIP UMIP - Reputation and value through intellectual property 8 Market inertia Is there either significant Customer entrenchment in this market sector? Significant new infrastructure investment/required to get the technology/product to market Has this sector already invested heavily in current technology, and will therefore be unlikely to orphan that investment? Are there obvious opinion leaders or early adopters that could help overcome these barriers? Information gathering Canvassing of existing customers/distributors etc Technology roadmap of industry Slide 29 UMIP UMIP - Reputation and value through intellectual property 8 Market inertia The widescreen format took 10 years to take over Changing money format has significant barriers both practically and in terms of user habits and attitudes Slide 30 UMIP UMIP - Reputation and value through intellectual property 9 Nature of competitors Do we fully understand the strengths/weaknesses of the competitor technologies? Are we confident that we could take a significant market share? Would competitors be able to take measures to undermine our project? E.g. Undercut on price Offer additional feature/benefit Information gathering Competitor analysis Contacting existing customers/distributors Specialist opinions/consultants Slide 31 UMIP UMIP - Reputation and value through intellectual property 9 Nature of competitors vs An ambitious competitor may end up winning, even if their product is inferior Slide 32 UMIP UMIP - Reputation and value through intellectual property 10 Market dynamics Do the dynamics for this market match the timing of the product/technology? A new mobile phone technology may be very risky if it has a 5 year development plan What are the market trends/pace/volatilities? Information gathering Project timing plan Legal or regulatory requirements/constraints Slide 33 UMIP UMIP - Reputation and value through intellectual property 11 Dependence on 3 rd party IP Is ownership of the technology clear People who have been involved 3 rd parties organisations who have been involved Freedom to operate Information gathering Thor