Friday, 19 December 2014 02:34

Foresight initiates startups IP ‘value’ program

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Silicon-Valley based intellectual property (IP) strategy and startup advisory firm, Foresight Valuation Group, has announced a Startup-IP Program (STR-IP), which it says is aimed at helping technology startups build an IP portfolio that is aligned with their business goals and that would enhance their valuation.

According to Efrat Kasznik, Foresight’s president and founder, and a Lecturer on IP strategy at the Stanford Graduate School of Business, the new initiative is particularly important for startups in IP-rich industries ranging from the Internet of Things (IoT) segments such as wearables, automotive and home automation, to material sciences such as Nanotechnology.

“The success of a startup idea hinges on the ability to turn it into valuable intellectual property.  This relatively straightforward concept, often ignored by many founders, is the only way to ensure return on investment, even if the product itself fails in the marketplace,” Kasznik said.

“We repeatedly see startups come to us after they have mismanaged their IP, either as a result of ignorance about the process or as a result of miscommunications with their patent lawyers.

“To address these issues, we designed this streamlined and cost-effective STR-IP program, implementing strategies learned through our years of working with some of the world’s largest corporate IP holders.”

Kasznik says new patent laws in the US under the “First to File” regime, recent Supreme Court decisions, as well as the increased risk of patent litigation, make it absolutely critical for a startup to start building its IP portfolio as early as possible. “Foresight’s STR-IP program provides startups with a structured approach to aligning their IP strategy with their business model and financial projections.”

Foresight promotes itself as striving to build IP portfolios for startups with several objectives in mind, including:

•    Create the right balance of offensive and defensive goals

•    Position the company to gain market share

•    Manage the risk of litigation

•    Enhance valuation and positioning for funding

•    Increase the likelihood of a successful exit.

Kasznik said the STR-IP initiative will be officially launched at the Consumer Electronics Show (CES) in Las Vegas, Nevada during the week of 5 January.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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