April 03, 2014
Partner Ed Fan is bringing a practical grasp of IP to Osgoode Hall students in a new course, Legal Values: Commercializing Intellectual Property. The course, which Ed teaches jointly with MedAvail Technologies COO and General Counsel Loreto Grimaldi, offers students a working understanding of the many moving and changing parts involved in the commercialization of IP in the business world. Osgoode Hall’s IP blog, IPilogue, interviewed both Ed and Loreto for their thoughts on the course, on the trends shaping the role of IP in the marketplace, and on their respective backgrounds in IP. Below is an excerpt of the interview.
[IPilogue] What do you feel are the biggest misconceptions about the commercialization of IP?
[Ed Fan]: Although I probably wouldn’t consider this purely a misconception, I often see an undervaluing of what we can call the “sweat equity” IP. When we think of commercializing of IP, this is very far from IP rights in the abstract. The misconception is the sentiment that “I have a great idea, and I will get paid”. I am not sure that this is exactly true. There is a lot of sweat equity that goes into commercializing a product that may have some IP rights built around it. There is a tremendous amount of work that goes into securing and maintaining the IP rights themselves, and making a successful business from all of this is even more difficult. Thinking about the amount of work that is required is often lost in the early stages of brilliant ideas, and since commercializing IP is really about taking the idea into the marketplace, this consideration is something that should be at the forefront of any strategy.
To read the full interview, click here.