Spring 2015 issue of Horizons

LIFE SCIENCES & TECHNOLOGY LIFE SCIENCES & TECHNOL GY

Intellectual Property Considerations in a Global Economy by Jason Mannello, CFA, CLP

T here’s no doubt that we’re living in an increasingly global economy. International markets continue to offer domestic companies not just additional outlets for products and services but are increasingly becoming providers of innovation and sources of competition. As transaction costs and other barriers to international trade continue to fall, globalization will increase and impact domestic companies more and more. Globalization can impact all facets of a company, including intellectual property (IP). Any company generating IP or commercializing technology through products and services should have an IP

strategy as part of its overall strategy; and when commercializing in global markets, the IP strategy should have a global focus. In addition, international markets are increasingly becoming sources of intellectual capital. Emerging economies are focusing on innovation, fostering the growth of intellectual capital, and turning that intellectual capital into intellectual assets, and, where applicable and possible, into intellectual property. A global focus will help enable you to tap into these sources. Just like other aspects of your business, an IP strategy requires foresight, planning, and resources. Globalization, while conferring many benefits, also adds complexity to an IP strategy.

page 36 | horizons Spring 2015