For a procurement officer, what makes a good IP provider?

However, when it comes to procuring intellectual property (IP) advice and support, the stakes rise even higher.

Unlike physical goods or traditional services, IP is intangible, often difficult to assess and carries with it significant legal, financial and strategic implications.

What marks out the best intellectual property provider in a tender?

The only problem is, faced with multiple responses to the same call for tender, it is sometimes difficult to pick the best choice from the array of likely very similar documents you receive. Having worked with many of the world’s best-know companies as a result of being chosen having gone through a tender process, the feedback we received has led us to believe the qualities procurement officers prioritise are:‍

• Legal strength

‍The first and most fundamental requirement is that the provider has an excellent (and provable) track record in producing enforceable and defensible IP extending across all the client’s key jurisdictions.

• Commercial value

Not all intellectual property is created equal. From a procurement perspective, the IP must deliver the maximum commercial value. As such, your advisors must be able to demonstrate how they go about maximising the value of your IP.‍

• Flexibility

We know cost-certainty is vital. This means procurement professionals want to see predictable and supportable cost models -underpinned with transparent billing processes – and a range of flexible, fixed price options that best meet your preferred ways of working.

• Full portfolio management

For maximum efficiency, your provider should be able to onboard every detail relating to your portfolio quickly and accurately, then absorb all aspects of the day-to-day management to reduce your workload and the stress of meeting renewal deadlines and the other unwanted administrative tasks associated with maintaining an IP portfolio.

• Scalability

Your aim is undoubtedly to grow. This means the firm you choose must be able to scale with you, have the strength in depth not only to take on more work as you grow but also the broadest range of technical expertise to take on different work in the event you diversify or acquire complimentary new businesses.

• Risk management

Risk is always top of mind for procurement professionals, and IP is no exception. Strong providers help you mitigate, not multiply, risk by offering the highest levels of indemnification, compliance and operational stability.

• ¨Off matter¨ value

Today much of the value IP firms offer goes beyond case numbers and open files. Firms must look “off matter” by providing all the strategic and sector insight, commercial and strategic ideas and proactive guidance that supports clients’ broader business goals.

• Relationship and responsiveness

Finally, what will the firm do to make sure you have the easiest, most effective and most comfortable working relationship? It is essential that the firms you shortlist can demonstrate how highly they value relationships and the lengths they are prepared to go to (backed with real life examples) to ensure you are serviced and supported in exactly the way you want.

So, what does make a good intellectual property (IP) provider for a procurement officer?

In summary, for procurement officers, securing the right intellectual property is both an opportunity and a challenge.

Done well, it can unlock innovation, efficiency, and competitive advantage. However, done without considering all the options listed above, your efforts could be wasted and you may not make the best possible choice which could cause your organisation issues down the line and force you to retender quicker than you’d like.

A good intellectual property provider is defined not only by the strength of their offering, but also by their transparency, commercial flexibility, risk management practices and relationship mindset. By keeping these qualities front of mind, procurement officers can separate providers who create long-term value from those who might not work out.

In an economy in which intangible assets like intellectual property are the difference between keeping pace and leading the pack, choosing the right provider is paramount.

If you are planning to tender for a new intellectual property provider and would like to include Potter Clarkson or you would like to find out more about our innovative and completely flexible approach to supporting large corporate clients, please contact us.