Providing an overview of IP processes is a difficult task. This is because there are many processes falling under this heading. Part of this complexity arises because intellectual property is both a source of business information which can be used to strategic advantage, as well as a business asset which can be deployed for shareholder value.

Price Waterhouse Coopers developed the graphic shown in the “Five Elements of Managing Intellectual Property” figure that highlights the general activities associated with managing intellectual property. The first intellectual property process is that of the Strategic Alignment. High-level sub processes and competencies in this area are: (1) Establishing IP and licensing strategies, (2) Development of IP, (3) Planning for IP, (4) Integration of IP, (5) Developing business relationships based on IP, (6) Direct the development of IP, and (7) Leadership.

The second intellectual property process is that of Creating and Perfecting Potential Intellectual Property Assets. High-level sub processes and competencies in this area are: (1) Identification of IP, (2) Evaluation of IP for licensing purposes, (3) Technology fluency, (4) Due diligence, (5) Evaluate IP on technical and business criteria, (6) Map IP to market opportunities, and (7) Evaluation / determine strategic fit of IP.

The third intellectual process is that of Portfolio Management. High-level sub processes and competencies in this area are: (1) Identify, develop, and manage opportunities in IP, (2) Establishing contractual bases for licensing, (3) Developing licensing business plans, (4) Obtaining internal buy-in, and (4) solicitation of IP.

The fourth intellectual property process is that of Value Extraction. High-level sub processes and competencies in this area are: (1) Packaging technologies into salable unites, (2) Value recognition / marketing of IP, (3) Identifying prospective licensees, (4) Drafting licensing agreements, (5) International issues in IP agreements, (6) Applying regulatory issues in licensing, (7) Driving to closure, (8) Negotiation of financial and business terms in IP agreements, (9) Negotiation of licensing or IP-Related Agreements, (10) Arranging for Follow Up, (11) Maintain and support the transfer of IP, (12) Post-licensing activities including Transfer of IP, Administration of post closure deals, (13) Post license agreement relationship management, (14) IP alliance management, (15) Audit IP agreements, (16) Track IP rights.

The fifth intellectual property process is that of recognition. High-level sub processes and competencies in this area are: (1) Publicizing Negotiated IP Agreements, and (2) Marketing IP.