Developing an IP commercialization strategy
The Saudi Aramco Advanced Transformation Program targeted growth in sectors where intellectual property (IP) plays a crucial role in competitive advantage; these sectors included chemicals, fuels, renewables, water, and energy efficiency, When the world’s largest energy company decided to rethink its approach to IP, it turned to RTI Innovation Advisors to develop an IP commercialization strategy that aligned with their business objectives.
We worked with stakeholders across Saudi Aramco to develop an intellectual property commercialization (IPC) strategy to support the company’s goals to leverage their R&D investment beyond their own uses. Our work included
- IP valuation and commercialization process review
- R&D and innovation strategy review
- benchmark and best practices review
- workshop facilitation with key stakeholders
- process sequence definition and demonstration
- training and mentoring
Our work addressed IP pipeline management, commercialization processes, investment to create value, commercialization channel optimization, deal-making, leadership, and skills development. Saudi Aramco implemented our recommendations in its IP commercialization strategy and streamlined and aligned accountability in its IP commercialization processes as a result.