“How to Incentivize BioPharma R&D with a Culture of Innovation”

In an article published this month in PharmaSource, Marshall Gerstein partner and patent attorney Katherine Neville, Ph.D. discusses methods for incentivizing the scientific workforce to protect their inventions, manage invention disclosure forms (IDFs), and determine ROI on the efforts.

“A life science company relies on its research and development (R&D) and maintaining a robust pipeline of clinical products,” Kate writes. She provides examples of how internal IP teams can encourage innovation, such as celebrating ideas, providing a bonus, and training them on the importance of patents and trade secrets to the company.

Tracking innovation can be challenging, even for smaller organizations, but Kate provides guidance on developing an effective and manageable capture process.

Kate adds, “Deciding which ideas to pursue and measuring the ROI in IP is different for each company and varies depending on its stage. For early-stage companies, intellectual property may be the core asset driving value, and therefore, more patent or trademark filings are considered a valuable notch in a company’s belt for future investment.”

She looks at ways to track ROI – and the metrics don’t have to be only financial.

To read Kate's complete article, "How to Incentivize BioPharma R&D with a Culture of Innovation," visit PharmaSource's website.