RSA backs UK Intellectual Property Offices IP Equip
IP Equip is an e-learning tool that contains four short modules to show why intellectual property is important.
“Most Life Sciences companies exist to generate ideas and turn them into commercial assets,” says Chris Molloy, CEO of RSA. “Having the ideas is not innovation, but harnessing and developing them is. Despite the best efforts of investors and management, many of the ideas generated within these companies never even turns into Intellectual Property, let alone products.
“Two things are required to solve this problem: a better understanding of IP and BETTER PEOPLE to harness the IP and use it, or commercialise it through others.”
As a leading global executive recruiter focussed on the Life Sciences sector, RSA sees first-hand how great ideas can get lost by either a lack of focus when establishing a patent which can be commercialised through others not having smart licensing people and effective reviews of IP portfolios by Investors or Boards.
“We are confident that Boards have a critical role to play in identifying the IP within their firms and putting the people in place to exploit the assets which have been created,” says Molloy. “We firmly believe that this begins with a clear understanding of how to identify and harness IP which is why we support the IPO’s & lsquo;IP Equip’ - a valuable online resource which Boards and Executives should use as a means of continuous business improvement.”
Rosa Wilkinson, Director of Innovation at IPO said, “The way companies manage their IP assets makes a huge difference to their success and resilience. IP Equip can help Life Sciences firms build the sound understanding of IP they need to translate their investment in brilliant ideas into solid returns by adopting the right protection and commercialisation strategies.”
Nick Stephens, Executive Chairman of RSA said, “Boards and Non-executive Directors are the LONG-TERM asset managers of a company. As well as ensuring compliance they develop and refine the strategy, vision and most importantly the long-term value of the shareholders’ investment and IP. Boards have a duty to ensure that the company has people and advisers with appropriate experience and skills, fit for the businesses needs today as well as for future growth and tactical implementation. Without the right people, the IP is simply a decaying asset. However, with the right people, innovation and value can be created.”