Managing your company’s IP

How would it affect your business if your closest competitor knew precisely how you carry out your business and had access to your internal operating procedures and customer lists?

The knowledge that you have — and your competitor does not — is a source of competitive advantage and is likely to be a key factor in your company’s success.

Intellectual property (IP) is just another way of describing valuable knowledge — knowledge about the way that you do business, knowledge about the way that you make your products, your business processes and even your customer lists.

In today’s global market, physical assets and traditional sources of competitive advantage such as manufacturing capability or location have far less relevance. The value of many of the world’s largest companies is increasingly vested in knowledge-based, intangible assets.

Given the increasing economic relevance of knowledge, it is imperative to focus on the identification of that knowledge, its value and its management.

The team leading the Electronics Industry Action Agenda has recognised the centrality of IP management and its exploitation in commercial success and has developed a manual to provide knowledge and practical advice for a range of audiences within Australian enterprises, both large and small.

The result is Intellectual Property Management: A Practical Guide for Electrical and Electronics Related Industries.

The project was developed by a consortium led by the Australian Electrical and Electronic Manufacturers’ Association (AEEMA) and one of Australia’s intellectual property firms, Spruson & Ferguson.

Copies of the manual can be downloaded from AEEMA’s website: www.aeema.asn.au.