Zeev explained that the morning session was to be focused on building value in a patent portfolio, while the afternoon would concentrate on extracting value from it -- whether by selling innovative assets or via litigation. He then introduced veteran corporate IP expert and IP Hall of Fame inductee Ruud Peters (Executive VP, Philips), who spoke on the role of IP today as a strategic weapon: there was no better example of this than the mobile phone market where key IP was bought, sold, licensed and litigated. Less dramatically but no less importantly, shareholders are beginning to demand answers from corporate managers as to how they are deploying their IP -- and they are suing if they're not happy. The systemic dimensions to IP should not be forgotten either: decreased patent quality leads to increased risks for business, he added.
IP facilitates open innovation, said Ruud, which is why you need IP even for innovation of that type.
Some quotable quotes from Ruud:
"If you can't show a return on an investment on IP, why would you do it?"
"A business strategy without an IP strategy is no strategy".
"First find out where the gaps are and make up your mind how to fill the gaps".