ISO 56005:2020
Clause 4: Intellectual property management framework – ISO 56005:2020

ISO 56005:2020 4.6: Financial resources for IP management

What does 4.6 require?

The organization should make available the money needed to run its IP management activities well. It should weigh the financial opportunities and constraints, including what it costs to miss out on getting and managing IP; assign a dedicated budget, for instance funds earmarked by top management, a portion of turnover, or a portion of the overall budget; and place a financial value on IP where useful or warranted, while acknowledging that valuation methods have limits. It should also consider how IP helps secure financing and investment in innovation, adopt principles for investment, for example buying a patent portfolio or pursuing acquisitions driven by IP, and take account of outside incentives for IP financing along with relevant public conditions or regulations.

Maintained by Gerard Blokdyk

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