为什么知识产权导向的初创企业如此成功？

如果我们认为投资或销售成果是成功的标志，那么很明显的是，那些从早期阶段开始就制定了明确的知识产权战略、并奉行该战略以确保强大且有价值的知识产权组合的初创企业，将比那些在这一领域缺乏关注或参与的初创企业更有可能成功。Joseph Hadzima、Bruce Bockmann及Alexander Butler在《知识产权资产管理》（《IAM》）2010年3/4月刊的一篇文章《初期商业和投资成功中的知识产权》中对此进行了明确详尽的说明：“赢家持有知识产权的可能性比输家要高出很多倍”。虽然Hadzima定义的赢家是属于风险投资“行业”，但如果他们赢了，公司的创始人大概率也会赢。其他研究表明，若新企业的专利申请组合翻一倍的话，投资者对该企业的估值则会增加28%（见《专利作为创业企业的质量信号》，Davis Hsu和Rosemarie Ziedonis，2006）。

If we deem investment or a successful sale as being indicative of success, it is clear that start-ups which, from an early stage, have had a clear IP strategy and that have pursued that strategy to secure a strong and relevant IP portfolio, will have a greater likelihood of success than those start-ups that lacked focus or engagement in this area.  This is clearly elaborated in the article, “IP in early-stage commercial and investment success”, Joseph Hadzima, Bruce Bockmann, and Alexander Butler, Intellectual Asset Management (IAM) March/April 2010; “winners are many times more likely to hold intellectual property than losers”.  Whilst the winners identified by Hadzima are the venture capital “industry”, if they win the founders are also likely to win.  Other work suggests that a doubling in the patent application portfolio of a new venture is associated with a 28% increase in that venture’s valuation by investors (“Patents as Quality Signals for Entrepreneurial Ventures”, Davis Hsu, Rosemarie Ziedonis, 2006).

这是为什么呢？简单来说，就是知识产权资产，特别是专利和商标等注册知识产权资产，具有有形价值，在公司其他资产价值的总和之上增添价值。假设公司采取了一种导向性强但谨慎的寻求知识产权保护的方法，那么知识产权资产的价值就可以而且应该达到为保护它们而进行的投资的数倍。

So why is this the case?  The easy answer is to say that IP assets, and in particular registered IP assets such as patents and trade marks, have a tangible value that is added to the sum of the value of the company’s other assets.  Assuming that a driven but prudent approach was taken to seeking protection, the value can and should be many multiples of the investment made to secure the IP assets.

但是，除了受保护的知识产权资产对公司价值的直接贡献，还有什么呢？由知识产权导向的初创企业的成功背后可能还有哪些其他原因？专注于创造知识产权资产的初创企业更有可能去进行创新。虽然仅仅为了获得可以申请专利的东西，而进行创新似乎没有什么好处，但对于一家公司来说，努力实现能够跨越专利性门槛的创新肯定是有益的。制定明确的、创造知识产权资产的战略是创建创新文化的关键组成部分。创新的而非仅是新颖的、能够解决实际问题或是开拓新市场的产品和服务，更有可能成功。这通常反映在政府的政策中，例如英国专利盒政策提供的税收优惠。这些计划反映了这样一种观点，即受专利保护的产品和服务可能更具创新性，在商业上更成功，因此在就业、税收等方面对国家更为有利。

But what about beyond the direct contribution of secured IP assets to a company’s value?  What other reasons might there be behind the success of start-ups that are driven by IP?  Well, a start-up that is focussed on the creation of IP assets is much more likely to innovate.  Whilst there seems little benefit in innovating merely to create something that can be patented, it is surely healthy for a company to strive for innovations that clear the bar for patentability.  Having a clear strategy to generate IP assets is a key component in creating an innovative culture.  Innovative, rather than merely novel, products and services that address real problems, or which open up new markets, have a much greater chance of success.  This is commonly reflected in governments’ policies such as the tax benefit provided by Patent Box in the UK.  Such schemes reflect the view that products and services that have patent protection are likely to be more innovative, more commercially successful, and therefore more beneficial to the country in terms of employment, tax revenue etc.

专注于保护自身知识产权资产的初创企业，可能比那些不注重保护自身知识产权资产的初创企业对竞争环境有更强的意识。这种意识不仅使他们能够评估风险，还可以让他们确定竞争对手的前进方向，并将自己的产品和服务引导到竞争较少从而利润更高的市场中去。更多地了解竞争对手的解决方案，有助于识别这些方案中的缺陷并对其加以改进——知识产权创造的良性循环——了解竞争对手的解决方案——发现缺陷——创造更多的知识产权。

Start-ups focussed on securing their own IP assets are likely to have a greater awareness of the competitive environment than those that are not.  This awareness not only allows them to assess risk, but also allows them to identify the direction of travel of competitors and steer their own products and services towards a market that offers less competition and therefore higher profits.  A greater knowledge of the competitors’ solutions helps to identify deficiencies with those solutions and to improve on them – a virtuous circle of generating IP – having sight of competitor’s solutions – identifying deficiencies – generating more IP.

Hadzima的文章进一步指出强大的知识产权水平，是通过发出对其健全管理的信号，来建立投资者和合作伙伴们的信心。显然，对知识产权采取放任自由的态度的公司不会激发多少信心。当然，一家花费大量时间和精力来保护其知识产权却几乎没有将其展示出来的公司，亦是如此。但是，这样的公司真的不应该被称为知识产权导向的初创企业，因为他们的方法一定不涉及任何关于如何、什么和何时保护其知识产权的谨慎决策，且基本一定不会涉及在公司内部构建内部知识。斯坦福大学法学院的William H. Neukom教授Mark A. Lemley强调了这一观点，他说：“风险资本家使用客户的专利（或者更有可能是专利申请）作为证据，证明公司的管理良好，处于一定的发展阶段，并且已经定义和开辟了一个利基市场”（见《在风险投资时代重新构思专利》发表于《小型新兴商法杂志》， 4：137-14，M.A.Lemley）。

The article by Hadzima further points to a strong IP position as building investor and partner confidence by signalling sound management.  Clearly, companies that have adopted a laissez-faire attitude to their IP will not inspire much confidence.  The same might be said of course for a company that has expended a great deal of time and effort on securing its IP with little to show for it.  But then such a company should really not be called an IP driven start-up as their approach certainly didn’t involve prudent decisions regarding the how, what and when of protecting their IP and almost certainly didn’t involve building internal knowledge within the company.  This view is reinforced by Mark A. Lemley, the William H. Neukom Professor of Law Stanford Law School, who has stated that “Venture capitalists use client patents (or more likely, patent applications) as evidence that the company is well managed, is at a certain stage in development, and has defined and carved out a market niche” (“Reconceiving Patents in the Age of Venture Capital”. Journal of Small and Emerging Business Law, 4: 137-148. M. A. Lemley).