Igniting innovation in utilizing patent assets
Whether a company deals in food, healthcare, electronics or computers, intellectual property plays a key role, drawing together a multitude of experts from across the business.
April 22, 2014 at 08:00 PM
6 minute read
There is an old saying that tells us there is nothing new under the sun. And, while that may be true when it comes to storytelling, it is not necessarily the case in the business world. Though we have had cameras, telephones, computers, voice recorders and GPS devices for years, it wasn't until recently that all of those products were rolled up into one device that we could fit in our pockets. So, while the technologies themselves might have been old hat, the way they were integrated together was innovative—that word itself is tricky.
What is innovation, and how does one achieve it? A scientist might tell you that true innovation is born in a lab, while a CEO might tell you that the most innovative business ideas come from the boardroom. True leaders in the IP space, though, acknowledge that intellectual property exists squarely in the intersection of business and law.
“For 3M, with patent assets used to protect our investments, we typically want to obtain a return on them through commercialization of technology. Therefore, our IP is closely aligned with our lab and business interests,” says Kevin Rhodes, vice president and chief intellectual property counsel for 3M. “We constantly look at our portfolio to make sure it is aligned with and covering the direction our labs and businesses want to go.”
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