Today, companies are looking more critically at IP protection. For good reason: as much as 75% of an organization’s value and revenues can be found in intangible assets, IP and proprietary competitive advantages. This only reinforces the need for companies in the supply chain to have robust intellectual property protection management systems and measures in place to secure proprietary data.
CREATe’s President and CEO, Pamela Passman discussed this topic in an on-demand webinar in partnership with SCM World, a global community and think-tank for senior-level supply chain executives.
For the webinar, Passman highlighted the importance of protecting intellectual property (IP) in supply chains, an issue that is gaining significance for companies that rely on a diverse range of suppliers from around the globe. She also addressed different ways companies can minimize intellectual property risks across the value chains. Several highlighted practices include:
- Collaborate with suppliers, customers and other trading partners to share leading practices for IP protection;
- Assess, evaluate and improve processes and practices to protect proprietary information; and
- Build systems to ensure compliance, particularly in markets where the rule of law is weak.
IP theft was also the focus of an article by SCM World’s Kevin O’Marah. Titled ‘Why IP Pirates are a Serious Threat to our Supply Chains –and Prosperity,’ the piece summarizes the increased risk of IP theft in supply chains. He highlights a Chief Supply Chain Officer survey showing that IP threats – in the form of counterfeits and the breach of IP rights –are top concerns for Supply Chain leaders. On the topic of protecting others’ IP as a ‘noble thing,’ he states, “IP security in global supply chains matters not because it is fair or honourable, but because it facilitates trade.”
CREATe.org offers companies a practical, scalable and cost-effective solution for improving a company’s intellectual property protection systems. CREATe Leading Practices for IP Protection builds on a company’s existing management systems to better understand the capacity to protect IP; and then measures and improves that capacity over time. Learn more about CREATe Leading Practices here, or e-mail email@example.com for more information.
This webinar is available to view on-demand for SMC World members.