Listen to this articleIn this interview, Dr Roya Ghafele explains why the search for a cure for Covid19 is invariably interlinked with an adequate intellectual property strategy. Coming to grips with the economics of intellectual property is quint essential to make wise technology decisions.
Q: Dr Ghafele, why is it so important to look at IP from an economic point of view?
A: In the current crisis we cannot afford to lose money. At the same time, we need a solution fast. These goals stand somewhat in contrast to how markets for technology work. Markets to technology are invariably surrounded by risk. Uncertainties pertain to the technological risk itself, financial risks as well as market risks. In such an environment it is instrumental to better comprehend the economic dynamics of intellectual property. OxFirst’s IP valuation can help in such a situation.
Q: Dr Ghafele, can you help me understand what an IP valuation is?
A: The valuation of intellectual property helps assess the economic relevance of various forms of intellectual property. Intellectual property comprises patents, trademarks, copyrights, trade secrets, trade names and more broadly also rights in software and data. Each of these intangible assets bear the potential to generate income. They do so, by providing a firm with different business options. Patents in particular enable a firm to claim a stake in the tech space.
In the current Covid19 crisis a legitimate claim in the tech space can help a company attract direly needed investment to bring new technological solutions to the market. It does so, by helping understand the economic dynamics that underlie the intellectual property. It can help determine competitive dynamics and look at the likelihood of future revenues associated with the IP.
Q: Dr Roya Ghafele, how can the valuation of IP help unleash its economic potential?
A: In the current Covid19 crisis it is particularly important to look at IP from an Open Innovation perspective. At present we see a lot of ‘national champions’, but fairly little effort seems to be going into transnational ventures. This is unfortunate as humanity will need a team approach to resolve the puzzle of finding a cure for the virus. The valuation of intellectual property can help opening up such strategies.
Q: Dr Ghafele, can you offer some real word results that have stemmed from your work?
A: Recently we were approached by a biotech firm aiming at regenerating damaged tissue. Their approach is hinged on stem cell research. If successful, it will allow to combat the damage caused by a host of different diseases and potentially even offer an anti-ageing solution.
OxFirst’s IP valuation helped the firm come to grips with Open Innovation. Rather than going solo, we helped them team up with research and business partners around the world to find ways to recreate damaged tissue. The valuation of the IP set the baseline that allowed each partner figure out its share in the venture and allowed it to mitigate against potential risks. OxFirst’s IP valuation was instrumental for the leverage of Open Innovation.
Q: Dr Roya Ghafele, what can we expect from you in next 12 months?
A: The next year will be crucial to help find a cure for Covid19. With the help of my team at OxFirst I hope to be able to contribute with my economic skills and knowledge about intellectual property to help humanity come back to normality.
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