Alec Sorensen on Keeping IP Rembrandts Out of the Attic

What is the value of protecting intellectual property (IP)?That’s the fundamental question that most Chief IP Counsel need time to answer to help their companies succeed. However, they’re often bogged down by the daily demands of leading teams that are doing what’s necessary to make sure that they’re obtaining the necessary IP protection. When they do have a chance to pose and answer that question to business executives, they quickly realize that those business executives are concerned with more pressing issues. When they succeed and those business executives start getting excited about the potential value of protecting IP, in-house counsel has the added responsibility of making sure they can follow-through.In this episode of Clause 8, Eli sits down with the founder & CEO of Tradespace, Alec Sorensen, to discuss potential strategies for in-house counsel facing these challenges. Alec talks about how he first discovered these challenges of in-house IP counsel while being asked to wade through messy IP portfolios of acquired companies as a management consultant. He explains how he was able to facilitate over $250 million in commercialization deals in that role and how that led him to found Tradespace to help in-house counsel set up their companies for similar success.Eli and Alec explore the complexities of IP development and the potential to unlock hidden value in patent portfolios, how and when to communicate with the C-suite about IP, how IP teams can get other parts of the company become champions for its role, the role that commercialization plays for Tradespace tools, and much more!Selected Topics* How lean, efficient IP teams are able to contribute to business success* IP team demands leading to lack of business relationships* Handling analysis paralysis in IP with analytics* Strategic IP questions for a new CEO* Successful IP strategies for universities* Role of AI in empowering IP decision-making* Risk of AI diminishing human judgement* Advice for tech entrepreneurs in the IP space* Customers using Tradespace to create better processesDisclaimer This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.voiceofip.com