For the first time, the Corporate Legal Operations Consortium (CLOC) will offer an Intellectual Property (IP) track during the 2019 CLOC Vegas Institute. Guided by experts in IP operations, the sessions will explore some of the latest innovations and trends in the IP industry, including best practices and how to implement them.
Best practice: The term long ago surpassed buzzword status and has now reached ubiquity. After all, what organisation willfully adopts (let alone admits to adopting) the worst practices when doing business?
For many in the legal operations field—including IP operations professionals—a good starting point toward best practices-oriented strategy is the Core Competency Model laid out by CLOC.
Made up of 12 primary functions, the model represents focus areas that every legal operations department should try to implement. These core competencies help departments gauge their own maturity, serving as a benchmark for comparison against your industry peers.
Still, there’s a significant difference between recognising best practices and actually implementing them. When it comes to the latter, many organisations are unsure where to start. For companies attempting to evolve their current IP strategies, this can seem particularly challenging. It’s difficult, after all, to view a situation with objectivity when you’re directly in the thick of it.
If you want to know where your IP operations business is lacking and how to implement the best practices necessary to bring it up to par, an IP diagnostic may give you the answers. Here are five ways an IP diagnostic provided by an experienced third-party vendor can help your IP department not only comply with CLOC’s Core Competency Model, but to also make the most of it.
One: Objective Assessment
One of the first steps toward complying with any set of best practices is assessing where you currently stand in regard to them. How compliant are you? Where are you strongest and where are you lacking?
It can be difficult for any organisation to ask difficult questions of itself, and even more difficult to answer honestly. An IP diagnostic performed by a third party can provide the objective view you need to determine where you stand. CPA Global’s IP Diagnostic services uses a methodology that forces organisations to thoroughly examine itself, and our extensive client base allows for anonymised benchmarking and standards assessment.
Two: Develop a Game Plan
A thorough IP diagnostic will provide you with the information and insights you need to devise a best practices-oriented strategy—including areas of improvement.
Once the IP diagnostic provider has correctly assessed your maturity level in each core competency, they can apply their expertise in technology and best practices to help you create a plan for improving from one level to the next.
Three: Measure Resource Needs
It’s not enough to have a list of best practices and a strategy: you also need the budget, resources, head count, and executive support to implement those practices and execute that strategy. But—even in the largest, most profitable organisation—funds and jobs don’t simply appear just because they’ve been requested, they must be justified.
Conducted in alignment with CLOC’s Core Competency Model, an IP diagnostic should provide objective, third-party data that supports your resources requests by providing evidence of their necessity and projected benefits.
Four: Expedited Evolution
A best practice IP operations strategy doesn’t just happen overnight. It takes time—and often a lot of it. Indeed, perhaps one of the most frustrating, or at least challenging aspects of implementing best practices is the amount of time it takes to identify prepare and execute them. Moreover, if you don’t get things right the first time, how much time is lost starting over?
Your IP diagnostic provider should not only be able to tell you how to correctly get started, but how to do so in the most efficient and timely manner. They’ll provide actionable steps along the shortest path from one maturity level to the next.
Five: Continuous Improvement
An IP diagnostic is not a one-and-done project. Instead, it should yield insights and results that your organisation can build on over time, and, if necessary, revisit and revise. After all, much like the technology and innovations produced by your company, trends and best practices in IP operations constantly change and evolve. Your strategy should lend itself to doing the same.
Choose an IP diagnostic provider you can envision working with over and over again, and who you trust to develop a deep understanding of your organisation that results in the comprehensive strategy you need to take the CLOC core competencies to the next level.
Annya Dushine and Sam Wiley are IP solutions experts at CPA Global.
Contact CPA Global to find out how CPA Global can provide a diagnostic assessment aligned with CLOC’s core competencies.