In the course of your R&D work, you’ll have created a variety of intellectual assets. Some of these may be registrable intellectual property, such as patents and designs. There’s often a wealth of other material, from copyright works (such as software code) to specialist know-how and trade secrets.
You know that all these assets – your IP and other intangibles - are valuable, because they underpin your products or services. However, because they don’t feature on your balance sheet, you can’t easily quantify or mobilise that value for lending or investment. In fact, how do you make anyone outside your business aware you’ve got them?
We have recently met Inngot, who offer online tools to help businesses realise the value tied up in these off-balance sheet assets. Their solution starts by profiling your innovation (which uncovers what you’ve got) and publishing a non-confidential summary of it on the Inngot knowledge bank. This enables the Inngot community of 1,500+ organisations to find interesting IP to licence or acquire, and it helps you explain to banks and investors where your value lies.
Inngot can also tell you what these assets are worth. Using their online tool called Sollomon, developed with specialist input from Grant Thornton UK LLP, you can produce a six-page summary report which gives you a good indicator of value, and shows you what kind of royalty rate you might be able to achieve if you decide to licence your innovation.
As a Jumpstart client, you can have a free innovation profile, so click here if you’d like to know more.
Posted on Thursday, 18th October, 2012