IT firms are not exploiting their intellectual property enough missing out on potential revenue and the chance to forge business relationships overseas.
According to a study of the IP market from patent attorney Gill Jennings & Every (GJE) LLP and Codexx high-tech firms don't value IP as highly as other parts of the buisiness and fears over competition restrict licensing deals that could bring in extra funds.
"Too many businesses are losing out on significant revenue from their IP because most global markets are too big for one company to dominate completely," states GJE.
"Licensing out the IP to companies who can generate revenues on the IP owner's behalf, but who are not in direct competition or are in different countries, can therefore be an important and practical revenue generator," it added.
As well as worries over competition the other hurdle is most firms don't seem to have an IP strategy other than to ensure competitiors are not stealing their information.
"If IP is treated as more than just an insurance policy that protects the business from potential competitor activity it is possible to secure a good return on the investment by fully exploiting IP rights as part of a global investment strategy," stated GJE.