In many ways, the IP Dealer resembles the IP Rookie. An IP Dealer typically has the following characteristics:
- Has less focus on exporting, with less revenue derived from exports (17%) compared to the other archetypes.
- Is focused on maintaining the company and retaining market position, and is less focused on growth.
- Has, on average, more employees with a legal background than the archetypes that do not engage in trading IPR – IP Rookies and IP Strategists.
- Has to a lesser extent dedicated IP resources, rarely has a formal IP budget and only in certain cases has implemented a methodology to identify relevant IP and manage the IP rights of the company.
- Finds IP costly.
- Decisions are often made on an ad hoc basis, and experience with trading IPR – e.g. in- or outlicensing or buying and selling – is in many cases limited and not the result of a targeted effort.
- There may be strong innovation within the company.
If the IP Dealer wants to adopt a more proactive IPR approach, the company – as in the case of the IP Rookie – can take the following steps:
- Assess the potential of systematising IPR efforts, including ensuring that the company does not infringe the rights of others.
- Allocate dedicated IP resources, initially assigning overall responsibility to one person.
- Ensure that the overall business strategy matches IPR activities.
- Identify further possibilities for trading IPR.
The IP Dealer’s characteristics have been identified from interviews with companies and by comparing questionnaire responses, accounting and employee data. This extract of results is based on Alkærsig et al (forthcoming): ‘Intellectual Property Rights Management – Rookies, Dealers, Strategists and Strategic Dealers’