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Capturing Intellectual Capital with Commercial Value

MIRA delivers engineering design, development and information services and operates a world leading automotive testing facility. It currently provides technical services to clients across the different sectors and develops ideas for innovative products.

With a desire to continue to build its business, MIRA approached us to identify ways in which it could capture and protect the value in the innovative solutions being developed by its researchers.

Coller IP Management has developed an Intellectual Capital Commercialisation and Management Process that allows clients to understand the value of IC and to assess and track the commercial potential of their products and services at different stages of development. In addition, the process prompts decisions on how and whether to protect the underlying intellectual capital. MIRA asked us to develop an IC Commercialisation Management process especially for use within MIRA, that would integrate with the existing systems and culture.

Working with a representative team of engineers within MIRA, we ran a group workshop to benchmark the level of understanding of IC Commercialisation, to provide initial training and to identify opportunities for development. The workshop identified actions on marketing strategy and readily highlighted where ideas and developments were not being protected or safeguarded in commercial deals. An IC management process has subsequently been developed for MIRA that puts better controls in place to deliver both market-based decisions and appropriately protected intellectual capital, as well as providing a mechanism for aligning and focusing investment decisions. In addressing these business issues, our client now has a management reference tool and a basis for building a robust future around a focused and differentiated range of services and products.

“Our understanding of how to capture and assess our ideas has improved significantly and rapidly with your help. Our staff are now recognising the commercial value of our ideas and flagging up when we need to make decisions about protecting and nurturing them”

Dr Anthony Baxendale, Advanced Engineering Manager, MIRA

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