Due to new digital competitors in existing industries, the digital revolution leads to greater complexity in the IP space, with more and more patent applications and increased rivalry in new technologies. Solid IP management and adopting an IP management system within a corporation are the only ways to address these new difficulties. The newly released DIN 77006 is a German quality standard in IP management that assists IP practitioners in establishing a cutting-edge IP management system. Prof. Dr Alexander Wurzer, CEIPI, introduced the standard’s fundamental principles on “The New German Standard DIN 77006“.

Digitalization’s main distinction and problem derive from the fact that digital inventions and patents are distinct. Those patents are not centred on the technological components of the invention but rather on the patent’s practical application. This signifies that the patent protects a particular use case, solution, or application. Whole business models and use cases can be made exclusive to a company by using IP in this way, giving it a competitive advantage in a differentiation rivalry. This raises additional concerns about newly developed products’ Freedom to Operate (FTO) from a defensive standpoint. The intricacy of the competition makes an FTO analysis increasingly tricky. New digital competitors may have already filed their claims with IP. As a result, a standardized IP risk management system, such as that established by DIN 77006, is required for digital inventions.

Because it is part of the DIN ISO 9001 family, IP management, according to the DIN 77006 standard, can be integrated into a company’s existing management systems, such as safety and environmental requirements. Furthermore, depending on the structure of each business, the standard’s integration will seem different. Nonetheless, some issues must be addressed in every industry, such as developing an IP culture, adequate resources, implementing an

IP policy aligned with the broader strategic goals, and integrating IP processes

IP strategy, IP risk management, IP awareness, IP generation, IP administration, IP enforcement, IP defence, IP transactions, and IP reporting are the primary IP processes outlined by DIN 77006. The PDCA cycle consists of four steps: check, plan, do and act, which is used to improve those processes constantly. The Certified University courses on “Integrated IP and Innovation Management” provide more information about the PDCA cycle and the practical integration of IP management.

The DIN 77006 standard, which deals with IP risk management, is a guideline for the quality of IP management to promote long-term corporate strategy and success. All systematic measures for detecting, evaluating, assessing, managing, and controlling IP and IP hazards are classified as IP risk management. The latter includes the danger of destroying or restricting existing IP and risk potentials from third-party IP rights for own company activities, such as potentially infringing third-party IP rights.

IP risk management, according to the DIN 77006 standard, entails

Monitoring third-party IP rights and competitor activity; evaluating and upgrading search profiles and applied criteria regularly; and monitoring the legal status of foreign IP rights. As a result, threats from third-party IPs can be discovered early on. Appropriate countermeasures can be devised to help a company achieve its objectives while avoiding unnecessary investments or roadblocks. It is possible to save time, money, and effort by conducting the analysis early.

Monitoring rivals and patent landscaping can help a corporation define and execute its business strategy and market position. Landscaping provides insight into the industry’s evolution. It tracks competitors’ global activity and highlights their strengths and plans. Further insights into competitors’ or new players’ patent filing strategies can be identified, with the potential for M&A, R&D investments, and other commercial prospects.

The DIN 77006 standard’s processes must be integrated into the core processes of business operations and are based on the DIN EN ISO 9001:2015 high-level structure. However, they do not require prior certification and can be set up independently.

An effective IP monitoring system is required to address and implement an IP risk management strategy effectively. There are various IP monitoring solutions on the market that meet the DIN 77006 standard’s requirements.

A search profile is frequently required when setting patent monitoring systems to meet individual demands. The search profile often includes information about the company’s rivals, markets, and technologies. A search profile like this should be tailored to the unique and individual needs and the company’s overall plan. It should be adjusted frequently as well.

To begin, knowledge on putting up a patent monitoring system is essential. On the other hand, Patent monitoring may be done quickly, efficiently, and cost-effectively after being thought through and set up.

Conclusion: With the new DIN 77006 standard, industries will be paying more attention to IP risk management and IP monitoring systems. The research of the IP landscape aids in recognizing potential dangers that a firm may face without taking any preventative steps or changing its strategy. It aids in visualizing technological developments, trends, and when the technology will prosper. It may also uncover new prospects, partners, licensees, or customers. Businesses should seek legal and regulatory advice when implementing the new DIN 77006 standard and IP monitoring technologies.

Disclaimer: The present article intends to provide general guidance on the subject, and you can also consult us in your specific case.