May 22 - 24, 2016
Trump International Beach Resort, Miami, Florida

Steve Henning Ph.D., CPA

Partner-in-Charge of Financial Advisory Services
Marks Paneth LLP

17:45 Think Creatively About Existing Innovation

Companies commit enormous resources and time to develop valuable business processes and commercial goods. R&D spend results in competitive advantages that can be protected as trade secrets or through patents, copyrights, etc. On one hand, the upward drift in R&D as a percentage of GDP reflects an emphasis on knowledge expansion and innovation. On the other hand, in times of recession, companies hold the line on R&D costs or even reduce the spend. This dichotomy may reflect the challenge executives face in allocating scarce resources in difficult times.

The value proposition may be in thinking creatively about further exploiting the IP that is controlled. While IP is typically developed for a particular use in a specific context or industry, others may more readily see the opportunity of redeploying that IP in different contexts. The session will focus on actual examples where companies created substantial value by creatively exploiting IP. For example, a mature manufacturer of building products was awarded certified carbon credits because of its use of recycled products that eliminated greenhouse gas emissions. In another instance, a medical device compound is used to coat solar panel connectors to dramatically increase the efficiency of those cells.

There are many examples of inter-industry exploitation of IP. We will discuss the process of identifying such opportunities and cover the challenges, costs and benefits of doing so.

Check out the incredible speaker line-up to see who will be joining Steve.

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