In this era of proliferating content delivery channels, Simon & Schuster has become more aware of its IP’s value. That wasn’t always the case. "When I first came into trade publishing, about eight years ago, nobody put much value on the content," says Mander. "Probably the only version of the printed copy was at the printers, if you were lucky."

In the not-too-distant past, with only rare exceptions, publishers forgot about a book once it had finished its print run. Today, with the arrival of e-books, print-on-demand and other publishing technologies, it pays to have content and related materials within easy reach. "What people used to do was order another copy of the physical book, scan it and send it off to whomever," says Mander. With its new software, Simon & Schuster can transfer books and related materials to a new medium without touching the hard copy.

IP asset management software lets editors, art directors, lawyers and others more easily access book assets and handle legal and financial matters. But for marketing staff, the software can work like an ordinary content management tool. "Our remote sales force has access to it," says Mander. "If they’re going to a customer tomorrow, and they want to pull together a one-off marketing piece, they can."

Cost Considerations

Although IP asset management’s benefits are obvious, it can be difficult to pinpoint an ROI. That’s because most of the technology’s benefits are aimed at boosting efficiency, which can be difficult to measure.

The cost of IP asset management software also varies widely, depending on a product’s capabilities, number of users and other factors. PLX Systems, for example, offers several modules for prices starting at about $20,000 per year. Halo Solutions’ IPDOX software, on the other hand, is available on an ASP model at annual fees starting at $1,500 for a license for one to 99 users. Still, users claim it pays off. "I’m sure that we’re more efficient, and we know we’ve saved money on physical distribution of hard copy materials," says Mander.

Besides allowing easier recycling of published works, IP asset management software can reduce costs by lessening the need to rely on external service suppliers. "For example, the author photos used to be held by an outside service," says Mander. "Now we have them in our digital asset bank, so we save money."

For example, NorthPole USA can track its own trademarks and patents for the first time using IP asset management software. "Before, we just relied on outside counsel to report to us on the status of the trademark or patent," says April Meng, a NorthPole intellectual property specialist. The company uses IPDOX to handle trademark and patent applications, administration and maintenance.