Lpines Presented “IP Based Innovation Cases” at a Recent “IP-based Innovations” Seminar Sponsored by the Korea Electronics Association Held in Seoul on May 28th, 2014

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Lpines addressed "IP Based Innovations Cases" at the May 28th, 2014 seminar in Seoul sponsored by the Korean Electronics Association.

Lpines addressed a group of business planning, strategy and IP executives at the “IP based innovations” seminar sponsored by the Korea Electronics Association held in Seoul on May 28th, 2014. The president of Lpines, Steve Lee, also addressed “IP based Innovations” lecture to groups of Japan’s corporate IP managers and counsel during the week of June 2nd, 2014 in Tokyo and Osaka.

As part of Lpines’ effort to create greater awareness among corporate audience to use IPs to innovate in business, as well as to better leverage competitive IP information in guiding technology driven business options, a number of industry trends and example cases were highlighted to audiences in Seoul, Tokyo and Osaka separately in several local conferences sponsored by industry associations and Questel, a global IP business intelligence data and software provider.

Corporate wealth is created by business innovations with strong intellectual property protection; there are numerous examples of successful business implementations in companies like Qualcomm, IBM, Microsoft, GE, Sony, Samsung, Apple and many others. Apple, led by late CEO Steve Jobs, demonstrates how IP assets are effectively leveraged in supporting business innovation. There are over 323 patented inventions associated with Steve Jobs as covered by NY Times (http://nyti.ms/1bVrqiB), stretching from desktop computers, Macs, monitors, software, iPod, iPhones to Apple TV marking him as one of those rare “prolific” inventors of American business and this “creative and inventive strength” of broader Apple team that was the hallmark of Apple’s remarkable rise from a startup to a small computer company then onto globally recognizable brand in consumer devices successfully extending to music devices to smartphones of today. “His patents and trademark provide a striking example of the intellectual property in the global marketplace”, according to David Kappos, U.S. Under Secretary of Commerce for Intellectual Property.

Failing to utilize core technology combined with IP assets effectively prevents growth, and as a result, IP based innovation is going to be an important management agenda in coming years as “management’s current reliance on historical/product based information like profitability and market share are creating “false” management bias, limiting business options in today’s fast changing technology marketplace with high disruption risks”, according to Steve Lee, president of Lpines inc.

Clayton Christiansen, a Harvard Business School Professor and the author of “The Innovator’s Dilemma” and “The Innovator’s Solution” series who coined the original term “Disruptive Innovation” stated that "Data is only available about the past. And when we teach people, that they should be data-driven and fact-based and analytical, as they look into the future, in many ways we condemn them to take action when the game is over.” And this view is true for financial information like sales, product profitability and market share which are inherently biasing management to look to the past but there is information that is industry validated and useful in projecting the future and that is based on patenting activities of market participants. Proper use of patent information is critical as this can be complementary and orthogonal to current management information that senior management relies on as they are attempting to navigate their organization in a complex world of global competition, technology convergence, disruption from multiple sources which present threats to existing companies as well as tremendous business growth opportunities for those who are future oriented.

The consequences for those who miss the “disruptive” innovation opportunities like the internet, social media, and smartphones can be severe for existing industry participants. Such management missteps are made not because of lack of effort or well intention of the management but are caused by the failure of an organization to embrace alternative signals that are more forward looking rather than creating management bias toward the past.

Great innovating companies have management culture and processes that are inherently forward looking; they do not live in the past. “IP driven innovation addresses both management philosophy and approach to business problem solving for those with significant technology heritage and assets to protect. But it also addresses the most pressing challenge of entrepreneurial ventures which is identifying ‘opportunity that is defensible’ by highlighting market opportunity with future protection built-in to raise venture success rate” according to Steve Lee. Lpines is devoted to understanding and advancing “technology and IP driven innovation” and offering insights to relevant industry audiences.

About Lpines (http://www.lpines.com)
Lpines Inc. is a California based technology transfer/commercialization and venture formation firm. The firm supports companies with their technology driven innovation strategy including strategic IP acquisitions and also explores various options to “monetizing” those assets including venture formation activities, nationally as well as internationally.

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