Today as more opportunities are created through IoT, we are seeing traditional hardware companies, whose intellectual property (IP) was the hardware that it manufactured, increasingly seeing the value in software and, in turn, changing their whole business and IP strategies to fit in with the new era. However, IP, hardware or software, is only as good as its protection and the business’ ability to successfully monetise it. Our recent research revealed that despite nearly nine out of 10 organisations admitting they are worried their software may become compromised, many are still not taking the threat seriously with over half (52%) leaving themselves vulnerable to IP theft by not using software IP protection tools.
Our most recent analysis of the software licensing and monetization market shows that some core value propositions endure even as the technology and its applications undergo significant evolution and change. Software licensing solutions were originally created with the goals of preventing piracy and protecting revenue of software products.
My previous article on monetizing IoT spoke about some of the key drivers of that space, the 10 main IoT areas, the importance of ecosystems, and other major considerations. In this follow-up article, I’ll focus on the 4 Values Framework that we’ve used to help several of our clients – both large, established companies and emerging startups – define their IoT strategies.