DibbsBarker, with support from AusBiotech, has launched IP Ready, a free online assessment tool designed to help life science companies understand the main forms of IP and identify gaps in their own IP knowledge.
IP forms an essential part of life science companies, as it helps attracts substantial, multimillion dollar investment that helps transform ideas into marketable solutions. It is a comparative strength for the life science industry, with Australia’s intellectual property ranked 11th most secure in the world.
Despite its importance for life science companies, IP is frequently misunderstood or overlooked.
This challenge is addressed by IP Ready, which is designed to assist SMEs in managing and commercialising their IP. SMEs can use the online diagnostics tool to input their business details, which the tool uses to calculate their IP exposure. The tool then provides users with a detailed and customised report to help users address and reduce their vulnerabilities in IP.
Glenn Cross, CEO, AusBiotech, said: “Whether they be a mature multinational, research organisation or startup, IP plays a critical role in their daily operations and long-term success. We’re delighted to endorse IP Ready and pleased to see DibbsBarker’s investment in developing a resource that will benefit life science companies in Australia.”
Anna Feros, Partner, DibbsBarker, said: “For those who have never considered IP issues before, the tool is educational by helping users gain a basic understanding of the spectrum of IP rights. For those who are already familiar with IP rights and their management, the tool is a valuable ‘refresher’.”
“It also helps identify areas where IP risks might arise in ways that often get overlooked, such as how contract workers are engaged and how their creative output is captured and protected,” Ms Feros added.
IP Ready was officially launched at AusMedtech 2017 & the International Conference on Mechanics in Medicine and Biology (ICMMB 2017), which was held in Melbourne in May.
To access IP Ready, please click here.