This article is the third entry in a multi-part series on the critical need for businesses to extract total value from their IP assets by developing and applying a comprehensive, consistent and efficient IP strategy. Read  Opening Arguments and Step 1 - Assessment.

This step of the 360º IP Strategy involves a thoughtful evaluation and analysis of the information collected during a previous assessment step.  Ideally, the collected information has been summarized and organized in a manner that allows for efficient review and comparison using a handy tool, such as the IP Scorecard introduced at Step 1 of this series of articles.

Returning to our hypothetical manufacturer Company A, we have now assembled a portfolio of Company A's IP assets, and we have started to develop an understanding of how the various IP assets relate to Company A's products and business objectives.  So then, how do we determine which of these assets matter?  Which IP assets are critical to be maintained and protected?  Which products are protected and which are exposed?

To evaluate the gaps in IP coverage for Company A, we recommend preparing a scaled score representing the relative strength of the IP assets for each significant product line across and within each particular business unit.  To illustrate this, we have used a 0 to 5 point scale to rank the questions below, with 5 being the best and 0 being the worst.  Although including all of the possible questions and areas is beyond the scope of this blog, as an example, we have included a simplified gap analysis for Company A.

The above deep dive analysis of the strength of key IP assets usually is performed from the top down (i.e., from business unit to product/service line), but is also flexible enough to move forward and backward, as needed, and as new and/or unexpected information becomes available.

Once the analysis is completed, a Summary of the Scores & Analysis is created.  An abbreviated example is shown below and can include:

Now that the analysis step is completed and all of the collected information has been evaluated based on the summary presented in the IP Scorecard, we are ready to begin the next step of the 360º IP Strategy:  Determining a Set of Prioritized Recommendations for aligning Company A's IP assets with its business strategy.  The next blog in this series will address this important step in determining an IP Strategy for Company A.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.