Keywords: intellectual property, IP, licensing, patents, value chain, biotechnology, bioentrepreneurship, entrepreneurship, corporate strategy
Editorial: a strategy to optimise the business value of Intellectual Property
In this paper, we suggest that, although Intellectual Property (IP) is an intangible asset of a firm, it is now treated effectively as if it were a tangible product. It is also a strong determinant of the success of biotechnology firms, since it is assessed carefully by investors, potential partners and acquirers, who understand that the value of a biotechnology firm is ultimately related to the sophistication with which it operates in the IP arena. As such, we propose that a viable corporate strategy should be one that recognises IP as an activity, like research and development, as part of a value chain, and which can only create value in combination with other production factors. A well-defined, cohesive strategy should deliver a balanced and effective IP production process, to ensure that what is protected and leveraged by firms is of real business value and has the best chance of being licensed.