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The challenge.
From launch, LiNa’s management knew they had valuable IP and knowhow – but they recognised that they needed professional advice on how best to protect their IP and knowledge-based intangibles and how to implement a long-term IP strategy to drive growth.
The solution.
On the TDAP program, LiNa used Inngot’s Goldseam online tool to identify and catalogue both its registered IP rights and its intangible ‘know-how’, and the Appraise tool which highlights potential risks revealed by analysing the Goldseam IP profile and delivers a ‘check list’ of issues and potential solutions.
LiNa then commissioned a bespoke IP audit from Inngot’s team.
Alenka Zeme, Manager of IP and Grant-Funded Projects at LiNa, says “IP is extremely important to us. As a research company, we don’t make products – yet – so our IP is our only asset.”
The result.
Alenka observes: “We use Inngot’s IP audit a lot. It showed us a number of weaknesses – we had no IP strategy, no trade secrets register – we didn’t even have a trade mark for LiNa. Since getting inngot’s audit, we have filed for a trade mark, we have implemented a trade secrets register and policy, we’ve created an IP strategy, and I have been appointed IP manager for the company. Inngot gave us professional advice and training to do all that.”
Mark Boland, LiNa’s company secretary, adds that LiNa is aiming for a Series A fundraising in the fourth quarter of 2022 or the first quarter of 2023 – “we’ll be looking to file another four patents by then. At that point, we’ll be looking to get a valuation of our IP and intangibles.”
We always did say we understood our only asset was our IP – we knew from the beginning we were at least five years from having a product. What Ian [Inngot’s Dr Ian Goodyer] did for us was to make us realise what that really meant.
