Businesses need no longer be confined to a specific sector or industry. Innovative products and services can be, and frequently are, adapted and used across widely divergent sectors, such as healthcare, travel and finance.
Whilst this comes with its own challenges, it also provides businesses with opportunities to tap into new markets and, ultimately, to develop new sources of revenue.
The key to harnessing these opportunities, however, is often not in the product or service, but in the intellectual property (IP) behind it, and how that IP is used.
In collaboration with Arthur D. Little and FutureLabs Ventures, we discussed how businesses can monetise their IP through strategies such as licensing, partnerships and venture building, and how doing so can help change IP from a reactive and protective tool into a means of proactively diversifying the business and building greater sources of revenue.
