Financial Sustainability Considerations for the Intellectual Property Office of the Future Report

Financial Sustainability Considerations for the Intellectual Property Office of the Future Report REPORT Financial Sustainability Considerations for the Intellectual Property Office of the Future by The IPO of the Future Think Tank FINANCIAL SUSTAINABILITY CONSIDERATIONS FOR THE INTELLECTUAL PROPERTY OFFICE OF THE FUTURE | 1 Contents Introduction 4 Chapter 1: Financial Models 6 Fees and Cost Recov. [...] Autonomy and Required Skills The greater the complexity of the task assigned to the IPO, and the more autonomy and responsibility that is assigned to it, the greater the skill sets and accounting system requirements. [...] The role of both the senior-most leader of the office, and the operational leader of a strategic investment, can be analogized to that required to bring about culture change to the IPO, and the culture- change component of strategic investments should not be under-estimated. [...] This again requires the regular and active involvement of the senior leader of the IPO, to set the tone, envision the key communication messages, help craft the narrative, and communicate the narrative regarding the investment—what it is about, why it is important, how long it will take to complete, what is being done to ensure it succeeds, how much will it cost, why the investment is “worth it”. [...] FINANCIAL SUSTAINABILITY CONSIDERATIONS FOR THE INTELLECTUAL PROPERTY OFFICE OF THE FUTURE | 20 Chapter 6: Financial Sustainability for the IP Office of the Future In addition to the importance of financial autonomy and the challenges faced on a day-to-day basis or during normal business cycles, IPOs also need to build a financial structure that is sustainable, robust, and nimble enough to weather.