With the Chaggim now behind us, and a relatively long stretch of real working time ahead of us, it’s a great time to reflect or what was, and where to go from here. The Tishrei holidays build into our annual calendar a time of “Cheshbon Nefesh חשבון נפש – ” or “personal accounting”. This period is a great opportunity, every year, to take a good look at ourselves, where we are holding, and try to make tweaks for the better.
So too, we are called upon at this time to reflect on our corporate well-being, situation, goals, assets and liabilities, and not just the financial ones. Considering that Intellectual Property (IP) is playing an ever-growing role in determining the average tech company’s value, the “Cheshbon Nefesh” of your corporate’s IP deserves some serious attention, especially at this time of the year.
Now for the part that gives me a great kick – IP is known in Hebrew as “קניין רוחני”, which may be translated as “spiritual assets”. Whether these assets are intellectual, mental or even spiritual, we can apply the often-used Jewish translation of “Cheshbon Nefesh” as an “accounting of the soul”, or in a tech company’s context, as an “accounting of your IP”.
Is your IP Portfolio working for you, and creating corporate value? Is your IP allowing you to enforce and/or defend your technology, or is it underperforming and possibly even functioning as a liability?
To be the technology leader and successful business you want to be, consider mapping where your IP is, and setting in motion a program to build the IP portfolio that is capable of protecting your technology and brand, and enhancing your corporate value.
We have found that a smart IP program usually begins with a systematic organization of your IP portfolio, as well as an optimization of the activities and procedures that drive your current IP program. Once you know what your IP Strengths and Weaknesses are, and have deeply considered your IP Opportunities and Threats, it becomes feasible to develop a plan and start executing the steps needed to build the portfolio you currently dream of having.
Wishing you a smart and efficient year, filled with inspiration and innovation!
The article was written by Yaron Damelin, CEO and IP Manager at Patenting Solutions. Visit us at: https://www.patentingsolutions.com/
* Yaron Damelin has 18+ years of experience as an IP Manager, Expert and Consultant. He is Founder and Chief Executive of Patenting Solutions (PS). PS is an IP Management Service, not an IP law firm. PS specializes in managing and developing IP portfolios, efficiently, effectively and smartly, on-demand. PS strives to save technology companies time and money in managing their IP and helps them grow valuable IP portfolios that make a difference.