The name of the article is “From Research to Revenue: Optimizing IP Profits with Enterprise Contract Management”. The author is Ralf Vonsosen. It can be located in the CM Magazine of July 2005 from pages 28-33.
The author tries to bring to light the importance of licensing intellectual property for companies. He says this is a good way for companies to earn substantial revenue. First, he says that the Enterprise Contract Management solutions are vital in managing intellectual property. However, these solutions must have quantifiable impacts on the business in terms of performance. They are also obligated to permit their users to do their jobs better and more efficiently. Finally, they have to enable consistency in the business.
Second, according to Vonsosen (2005) the integration of ECM into the company’s system is highly recommended. In this regard, implementing, using and maintaining are imperative areas in reducing the total cost of ownership. The company’s systems should always be timely and cost effective. Continued system adaptation according to the needs of the company and their customers is also paramount.
Third, the author gives the consequences of using an ECM solution in the management of intellectual property licensing agreements to include enhanced IP exploitation, an add to royalty revenue, the IP Portfolio gets prolonged, the business gains better compliance, the financial risks of the business are also lowered and employee productivity is accomplished.
I agree with the author’s sentiments on this subject matter. It is true that the company’s ECM return on investment will be maximized when the total cost of ownership is significantly reduced. Emphasis is provided by Forquer et al (2006) where they state that ECM solutions generate excellent ROI. This means that the improvements that companies are attaining from deploying ECM solutions are creating solid payback results. Results that are achieved by lowering maintenance costs, improved response time to employees and increased productivity. Saxena (2008) also asserts that the benefits of ECM implementation to a company are best achieved when ECM is viewed as part of an integrated and existing compliance IT, corporate culture and management architecture. This means that ECM cannot operate on its own and it cannot be used once given by the fact that it is a continuous process.
Forquer, B., Jelinski, P., & Jenkins, T. (2006). Enterprise Content Management Solutions: What you need to know. Waterloo, Ont: Open Text Corporation.
Saxena, A., & International Association for Contract and Commercial Management. (2008). Enterprise contract management: A practical guide to successfully implementing an ECM solution. Ft. Lauderdale, Fla: J. Ross Pub.
Vonsosen, R. (2005, July). From Research to Revenue: Optimizing IP Profits with Enterprise Contract Management. Contract Management, 28-33.