How to turn intellectual property into an indispensable source of competitive advantage
Mark Blaxill and Ralph Eckardt have consulted for companies that are highly efficient, full of hard workers and smart managers—yet barely able to eke out a profit. They’ve also worked in undisciplined, mismanaged companies that generate huge margins year after year. The key to sustainable profits, they realized, was intellectual property. Yet most managers are unable to see the power of IP because they were trained to focus on more tangible factors.
This book is about turning invisible assets into an unbeatable edge. With the right IP and the right strategies, companies can command premium prices, increase market share, sustain lower costs, and even generate income directly. Without it, their products are undifferentiated and they can compete only on price.
The authors teach readers a new way to see their invisible assets, analyze them, and build a business around them. Unlike other books that focus on the legal and technical issues of IP, this one is totally practical.
Blaxill and Eckardt include fascinating case studies, ranging from golf balls (did Titleist steal technology from Bridgestone?) to Facebook (can it sustain its lead against new social networks?). They also look at a dozen mainstream companies in a wide range of industries, such as Toyota, Procter & Gamble, and IBM.
If you would like to learn about importance of IP rights in business and international trade, this is the right book for you. The key concepts like strong Ip rights provide key competitive advantage are discussed in depth - illustrated by many examples and supported by clear strategies to establish it. Chapters on pattern’s network and patterns in international trade are my favorite.
As for negatives, book is outdated (not authors fault obviously) and not covers companies like Amazon, Uber, Airbnb - and even Apple mentioned very briefly. Instead Facebook was used as a use case.
Another drawback, is that authors typically provide extended background, which for me makes it sometimes hard to follow all the details. I think keeping it more simple and going into historical background when it is absolutely needed would benefit this book.
Solid intro to the recent history and practice of corporate IP. A few nice case studies on good and bad uses of IP; I especially enjoyed learning about Toyota’s collaborative strategy. Can get a bit bogged down in regulations, as to be expected, but overall well-paced. I like the succinct and practical list of recommendations at the end too.
I really enjoyed this book, it highlighted to me the underlying importance of IP. Perhaps more importantly, it gives 3 different strategies for managing IP rights, with stories of successful and less-than-successful implementations of strategy. Highly recommend.