Intellectual Property Briefing Brings National and International Executives to South Carolina
Charleston, SC- June 14, 2012- Today, SCRA Technology Ventures, the University of South Carolina and business executives from U.S. and global companies met to discuss the importance of intellectual property strategy to increasing a company’s value at the Wild Dunes Resort in Charleston, SC.
The meeting, focused on “The Effects of IP on Corporate Performance,” featured keynote speakers Bill Coughlin, CEO of Ford Global Technologies, and Steve Landefeld, director of the Bureau of Economic Analysis (BEA) in the U.S Department of Commerce. SCRA Technology Ventures’ Greg Clark, USC deans Hildy Teegen of the Moore School and Anthony Ambler of the College of Engineering and Computing spoke at the briefing as well.
The event was a collaboration of the Darla Moore School of Business and the College of Engineering and Computing at the University of South Carolina, and the National IP Taskforce, a 15-year-old consortium dedicated to organizational development in IP strategy and management. SCRA Technology Ventures sponsored the event.
Dirk Brown, director of the Faber Entrepreneurship Center at the Darla Moore School of Business in partnership with the College of Engineering and Computing, said there is a growing need for business protocols that will improve the strategic management of IP assets nationally and globally.
“The majority of the value in almost every enterprise is in non-physical, intangible assets. That’s about 75 percent of the S&P 500 stocks. Business leaders need to understand how to best leverage and legally protect those intangible assets,” said Brown. “IP strategy is the responsibility of the operating executive, not their patent attorneys.”
Coughlin discussed how businesses can create new assets for corporate survival and gave examples of how Ford Global Technologies, which owns, manages and commercializes the patents and copyrights for Ford Motors, used its intellectual property to manage through the 2008 – 2009 financial crisis and emerged stronger as a result. Landefeld discussed the importance of IP and innovation to economic growth.
“SCRA Technology Ventures’ flagship program, SC Launch, has seen the dramatic economic benefit that commercialization of intellectual property can bring,” said SCRA Executive Vice President Ambrose Schwallie. “We are pleased to be take part in this important event that showcases South Carolina’s understanding of intellectual property while bringing strong strategic ideas to the forefront of these business leaders’ minds.”
About the Darla Moore School of Business
The Darla Moore School of Business is among the highest-ranked business schools in the world for international business education and research. Founded in 1919, the school has a history of innovative educational leadership, blending academic preparation with real-world experience through internships, consulting projects, study-abroad programs and entrepreneurial opportunities. The Moore School offers undergraduate, master’s and doctoral degrees, as well as distinctive executive education programs. In 1998, the school was named for South Carolina native and New York financier Darla Moore, making the University of South Carolina the first major university to name its business school after a woman.
About the College of Engineering and Computing at the University of South Carolina
Founded in 1909, the College of Engineering and Computing is a nationally ranked program that offers undergraduate and graduate degrees in numerous areas of study. Departments and Programs include Biomedical Engineering, Chemical Engineering, Civil and Environmental Engineering, Computer Science and Engineering, Electrical Engineering, Engineering Science, Mechanical Engineering and Nuclear Engineering.
About the National Knowledge & Intellectual Property Management Taskforce
The taskforce has conducted research on IP business practices since its inception in 1998. Through research, collaboration and advocacy, the taskforce has advanced the understanding of executive and organization development of IP strategy as an economic driver and model for global competitiveness.
About SCRA and SC Launch
SCRA is an applied research corporation with over 29 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. Our flagship SC Launch program, managed by the Technology Ventures sector, helps early-stage companies to commercialize innovations and create jobs. SC Launch has supported 271 entities in South Carolina through investments and other support services. Multiple economic impact studies show SCRA’s cumulative impact on South Carolina’s economy to be over $14 billion.