Many innovators believe implicitly that they will always reap the rewards of their innovation ideas and the associated intellectual property (IP). But just because you are the inventor, this does not mean others will let you take the profits of your work easily. Competitors, suppliers and the customers will all try to get a share of the enabled benefits. Learn the fundamentals of IP management to make the right strategic decisions and reap the benefits of you innovation and intellectual property (IP).
How to manage you innovation knowledge
One of the most important thing innovators need to decide upon is how to manage their innovation related intellectual property. Most people assume they have to keep things secret and front-run competition.
At the very least check out the Android example below to learn from Google (owner of Android) masterful intellectual property management. They have made great decisions on which parts to fully publicly share in order to catch-up on Apple iOS' lead and leave them well behind (in terms of install base), how to collaborate with industry incumbents and which parts to keep secret to not lose control of the technnology trajectory.
Microsoft, Qualcomm and many other blue chips generate massive revenues by licensing out their IP (such as patents). In other cases they use their IP to achieve vast strategic objectives. Microsoft has used it (in part) to expanding their installed base onto the Android platform – a major strategic achievement. Learn how you can use the licensing business model to get higher returns on your R&D investment and achieve valuable strategic goals.