Maximizing Profits From Intellectual Properties: GE´s New IP Asset Management System

General Electric

Maximizing profits from intellectual property assets requires a company to constantly monitor its licensing agreements. For a business the size of GE´s Industrial Systems (GEIS) operation that task could be very costly and time consuming, which is why they have developed an electronic system for managing intellectual property assets and agreements, now available for license to third parties from GEIS.

Gerard Devine, an IP counsel specializing in licensing with GEIS, initiated a management program for strategic IP assets and spearheaded the development of a software application that runs on common computer hardware and software and provides comprehensive cataloging and monitoring of GEIS´s licensing agreements. According to Devine, the IP management system uses a platform built around Microsoft´s Internet Information Server 4.0 and Microsoft Access 97, enabling GE to electronically capture key elements of each licensing agreement for future tracking, collections, and general management. The application is designed to be scalable to larger database sizes and concurrency through upsizing to SQL Server. The entire system is web-based, enabling GEIS personnel to get up-to-date information via the company´s intranet on licensing by product line, licensee, territory, and agreement type. Projections on future licensing income can also be accessed. As a result, GEIS has greatly improved its ability to manage it vast licensing portfolio, using just a part-time employee. "We´ve increased our licensing revenues dramatically with this system," stated Devine. "The system has been so successful," he added, "that other GE divisions are planning to quickly adopt it."