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Società Italiana Brevetti – Roma - How to maximize the Exploitation of Intangibles: Going Beyond the Protection of Intellectual.

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Presentation on theme: "Società Italiana Brevetti – Roma - How to maximize the Exploitation of Intangibles: Going Beyond the Protection of Intellectual."— Presentation transcript:

1 Società Italiana Brevetti – Roma www.sib.it - roma@sib.it How to maximize the Exploitation of Intangibles: Going Beyond the Protection of Intellectual Property Rights to Business Strategies based on Licensing, Franchising and/or Merchandising Caserta, November 30, 2005 by Fabrizio de Benedetti

2 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Beyond the protection of IP IP rights are assets having no value per se. Rather they are expenses accounted at cost. IP rights are Business Assets At what time the shift from one category to another takes place ? Use vs. value extraction

3 Business Patents Topographies of integrated circuits registrations Computer-implemented inventions Software Data Compilation / Databases Business Identifiers (domain names) Geographical indications Slogans Sounds Distinctive packaging / Trade dress Persons identity Properties from characters (pictures, cartoons, TV, radio) Lifestyle properties Graphic symbols and computer icons Graphic user interfaces Website designs Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Which Assets Patents Utility Models Know-How Trade Secrets Plant Varieties Designs Trademarks Copyright Expansion trend New Traditional

4 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it TRIPs Agreement on Trade-Related Aspects of Intellectual Property Rights 15 April 1994 … taking into account the need to promote effective and adequate protection of intellectual property rights… …Recognizing that intellectual property rights are private rights…

5 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Which business Direct use Indirect use

6 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Direct use No real business without innovation innovative idea Either traditional manufacturing companies or new start-up or spin-off companies need an innovative idea in order to plan their business and to focus their strategies around it.

7 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Direct use Protecting the idea idea The idea, being the seed from which the business should develop, needs to be protected. It will then turn into an asset.

8 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Direct use Extracting value Direct exploitation not limited to traditional use of a patented innovation, a design, a trademark, a copyright, etc. Includes creative recognition of all potentialities (e.g. business expansion areas, geographical expansion, additional protectable items such as simplifying or enhancing technology, new design, new graphics, new colors, new slogans, creative use in advertising, etc.). The phenomenon of no factory companies.

9 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Indirect use Licensing Joint Venture Franchising Merchandising Creation of a new business

10 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Fund Raising Public loans or capital contributions for start-up innovative business Securitization (bank – private investors - venture capitalists) Equity financing IP valuation

11 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Fair market value Tangibles Intangibles vs. Value-in-use

12 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Valuation of IP The value of an intangible depends on its context Potentialities, strategies, capabilities influence the IP value Proprietors business plan determines the value-in-use

13 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Valuation problems IPmay be employed for different uses IPis unique even in the same area of activity the corresponding market being more difficult to define IPmay include a number of rights of different nature IPshould be considered with respect to its legal status

14 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Valuation methods Cost approach (principle of substitution) Market approach (reference to transactions involving similar assets in similar markets) Royalty income (anticipation of future income relating to use of IP)

15 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it From Cognitive property (knowledge) Intangible economy (profit) to

16 Fabrizio de Benedetti Società Italiana Brevetti – Roma www.sib.it - debenedetti@sib.it Thank you!


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