Wyoming Entrepreneur Blog

Intellectual property and small business

WYOMING BUSINESS TIPS

A weekly look at Wyoming
business questions from the Wyoming Entrepreneur Network, a partnership of
business assistance programs at the University
of Wyoming.

Intellectual Property and Small Business

Karen Kitchens, Intellectual Property/Documents
Librarian, Wyoming State Library, [email protected]

Knowledge and ideas have always been a powerful force in economic development.  As a small
business owner, Intellectual Property (IP) is a key consideration in your day-to-day business
decisions.  IP is an important component of the United States economy, and the U.S. is an acknowledged global leader in the creation of IP.  According to the Office of the United States Trade Representative, “Americans are the world’s leading innovators, and our ideas and intellectual property are a key ingredient to our competitiveness and prosperity.”[1]

Unfortunately, businesses often fail to protect their valuable IP because IP is not tangible property.  IP has no physical form.  Examples might be a method of doing business, an Internet domain name, or a company’s marketing material.  Often, this intangible property is more valuable than real or personal property. The commercial value of IP comes from the ability of its owner to control and exploit its use.  

The term “Intellectual Property” might sound a bit pompous.  But in reality, it is a very
good description for the proprietary interests of individuals and businesses, protected by the laws of IP.  The United States Patent and Trademark Office defines IP as, “Creations of the mind -
creative works or ideas embodied in a form that can be shared or can enable others to recreate, emulate, or manufacture them.”  Globalization of the world’s economies has significantly increased the need for information about IP.    

There are four ways to protect IP - patents, which pertain to pragmatic innovations; trademarks, which relate to commercial symbols; copyrights, which concerns artistic and literary works; and trade secrets, which consist of valuable business information that is not generally known and is subject to reasonable efforts to preserve confidentiality.  Some IP rights – copyrights and trademark rights are granted automatically upon creation or use of the IP assets without any action needed by the creator.  Other IP rights, such as patents, require action on the part of the creator in addition to considerable expense. 

This series will review the four types of IP rights and how each may affect your business.  For example, developing and protecting your IP assets and rights can give you an edge over the competition by discouraging unscrupulous competitors, developing new revenue sources, and increasing the
value of your company.  IP is a valuable business asset that must be managed and protected like any other asset.

 

For more information about the
services of Wyoming Entrepreneur, or to ask a question, call 1-800-348-5194,
e-mail [email protected] or write 1000 East University Avenue, Department 3922,
Laramie, WY 82071-3922. Additional help is available on our website www.wyomingentrepreneur.biz.

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Small Business Administration. Additional support is provided by the Wyoming Business Council and the University of Wyoming.

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[1]Special
301 Report Finds Continued Progress But Significant Improvements Needed. 2004.
Office of the United States Trade Representative Archive. 30 May 2012 <http://www.ustr.gov/archive/Document_Library/Press_Releases/2004/May/Special_301_Report_Finds_Continued_Progress_But_Significant_Improvements_Needed.html>.

 

 

 

 

Process mapping?

By Anya Petersen-Frey, Regional Director, MBA, PhD (abd), Certified Global Business Professional

What exactly is process mapping?    Bob,  Torrington

This is a great question, and timely, since I just finished a process mapping project with a local organization.  Here is a very brief overview.

Process mapping is usually considered a quality management tool with an overall goal of improving a process by looking for gaps in service, waste (time or product) or other issues. You may have heard terms such as "Six Sigma", "Lean Six Sigma"  or the Malcolm Baldrige National Quality Program all which provide tools geared toward maximizing efficiency while maintaining control over a process - be it manufacturing or service related.

Process mapping provides business leaders the opportunity to clarify how processes are actually being performed. It reveals problems such as bottlenecks or variations in how the process is carried out by different groups or individuals.  Put simply, process mapping strives to improve business performance by optimizing the efficiency of connecting activities in the creation of a product or service.

A process map is a tool - a means to an end, not an outcome in its own right.

The final output will, hopefully, be an  improvement in the way that the business process works.

 There are two main process models:

• The "current"  model which outlines the current process as it is performed now
• The "future" state model which defines the way the process will look when changes or modifications have been implemented - or the way it is desired to be.

The goals of completing this process are to create value for the customer and to reduce costs for the company

There are many ways to approach creating a process map.  Optimal is to have people at all levels of the organization involved, even in a very small firm. The starting point is to identify and map out a particular process for a "current" state.  If you don't know where the gaps or delays in a process are it can be difficult to identify and correct them. 

For example:  Imagine you own a carpet store that sells carpet as well as offers delivery and installation.  What is the process, from the customer perspective, of purchasing and having carpet installed?  The starting point might be "customer comes into store to look at carpet". Then what?  What questions are asked that direct the next step?  Walk the steps as though you are a customer including communication, time involved, etc. Note where delays occur, or where decisions have to be made.  This can be a messy process as different input creates a map with many divergent paths.  That is ok. 

This may be a simplified example but can give you a hint of how to take a step back and objectively view your business process.  It is important to understand what each person does - so ask them.  The map should have no personal names but rather only list the processes and the differences in how different people handle them.

There are many flow chart and process map examples on the Web as well as software to help you build your final map.  You will notice some standard symbols used to delineate "decisions", or "delays" - these can be helpful but the map can be created in a way that meets the needs of your organization.

It can help to have an objective facilitator guide the original data collection using input from various people in the particular process to get an accurate view of what is actually happening, but again, a business owner can begin the process on his own.

The key goal in using this type of tool is to maintain a competitive edge.  Don't become complacent and fall into the age-old "this is the way it has always been done" trap.  There are times when the an original method is still the best; but many times it is time to re-evaluate and institute more efficient processes.

Tough Market Conditions Present Opportunities to Build Infrastructure

As a former [read as: reformed] banker, I find that a majority of my friends are either bankers, portfolio managers, or business service providers.  Perhaps that is because of the propensity to see these same individuals at the golf courses and other "social networking" venues I still frequent.  Whatever the case, my current responsibilities as a business counselor and legal specialist with WyomingEntrepreneur.Biz makes for a synergistic partnership with these colleagues.

So on the frequent occasions I have to visit with these "finger-on-the-pulse-of-the-economy" friends of mine, I always ask them, "What should I be telling my business clients to do in this economy"?  The resounding response is: "Grow!"

Now, "Grow!" can mean a lot of different things to different people.  Perhaps my commercial lending compadres are suggesting the time is ripe for a huge expansion loan...but I doubt it.  Maybe my investment friends are suggesting I tell you to go diversify your portfolio...but they always say that, so I doubt these tough economic times warrant any special treatment.  No, I think what "those in the know" are suggesting is that this is a good time to invest in your business.

Investing in your business can also mean many things, but to me that means working on your infrastructure.  We all know that infrastructure is just a big word that means "the nuts and bolts" of your company.  That new record keeping software, that piece of equipment that needs refurbished/replaced, the certification you have put off, even resurfacing the parking lot or a new coat of paint on the office walls...they are all infrastructure.

When business is good you are too dang busy to worry about those small details.  How many times during "peak sales" did you say to yourself, "Ah, I need to take care of {insert problem area here}."  But you never did because you were too busy making money to find time to spend it...I mean, reinvest it in your company.  With the economic slowdown, the slow sales, and the fear of just covering the bills comes a temptation to withdraw and save every penny.  Problem with that is, we KNOW [emphasis added] that things will rebound.  Already $1.5 trillion has been earmarked for something called "economic stimulus" nationwide.  Whatever that really means, it means there will be a lot of money that needs to be spent.  When the "good" times come back, will your business be poised to capitalize?  Or will you be woefully unprepared?

One final thought...if you think that you have your business as prepared for the rebound as it can possibly be - and you have employees - then consider investing in your greatest asset: your staff.  Employee training [training = training, certifications, continuing education, licensing, skills assessment, skills improvement, etc., etc., etc.] is a fairly low-cost, high-return, and easy investment in the people who make your business run.  If you are unsure what training your people need, or how to find the training you know they need, contact your local WyomingEntrepreneur.Biz office for a no-cost consultation to point you in the right direction.

Whether it be in the equipment, the real estate, the business plan, or the people...an investment in your business today [when things are slow and manageable] will lead to rewards when the inevitable bounce-back arrives.

Why A Distributed Model in Wyoming?

I get a lot of questions about the operation that the WMRC runs in Wyoming, and one of the comments is often "why do you have centralized services?". I discussed this in an earlier post, but something I read today gave me an even clearer visualization. Wyoming has 23 counties. Three of those counties are larger in area than the entire state of Massachusetts. Unlike Massachusetts, we only have 510,000 or so people.

Folks who come here just don't understand the miles and miles of ....miles and miles that we have in Wyoming. Face to face is just not a viable option for the type of service we offer, so we've had to adapt to the realities of the western rural landscape.

Have you had any experience with Economic Gardening?  How does it compare to our Wyoming approach?

Geographic Information Systems (GIS) in Economic Gardening

The following is a "Biz Tips" article I wrote a while back for Wyoming newspapers and gives information on why we use GIS.

According to the United State Geological Survey, a GIS (Geographic Information System) is “a computer system capable of capturing, storing, analyzing, and displaying geographically referenced information; that is, data identified according to location. Practitioners also define a GIS as including the procedures, operating personnel, and spatial data that go into the system.” That’s a kind of long-winded way of saying that GIS takes information and puts it on a map.

Why? Because most people understand maps much better than spreadsheets, databases or columns of figures and numbers. If you are a business owner, chances are most of the information that you have available about your business has a geographic component.

For example, if you have a pizza shop you might want to create a map that shows your delivery area. This is an important thing to have since you know that if your drivers have to travel more than 15 minutes from your store, the pizzas will not be hot for your customers. You could take your car and drive around town trying to figure out how far 15 minutes is…or you could do the same thing with a GIS system in a few minutes.

Using computer software, the GIS would figure out where your store is (this is called geocoding), and then from there it would combine that information with your local street map and figure out exactly how far a car can travel in 15 minutes. The end result will be a clear map showing your delivery area, and even more importantly, happier customers with hot pizzas!

Another use would be to figure out where your customers are. If you have a customer list that includes street address information, a GIS can create a map that will show you exactly where each customer lives. Sure, you can look at a spreadsheet or database table, but a map will quickly and clearly show you the area that you are serving. To take this a step further, an advanced GIS can then look at where those customers live, and tell you about who they are and where there may be more of them.

GIS is a powerful tool and it could be something that would be useful to your business. However, remember that GIS is really a set of tools that must be applied by people who use it to solve problems.

Do you have any experiences in using GIS in your business?

Economic Gardening - A Distributed Services Approach

Littleton's Chris Gibbons and his group are probably the preeminent practioners of Economic Gardening in the world today. Chris is the one who invented the concept and he has had an astounding impact on the economy of his city. However, he has one major advantage that we at the WMRC lack…Littleton isn’t very big!

Wyoming, the smallest state in population at about 520,000 IS BIG! We are the 9th largest state with over 970 thousand square miles. I like to tell people that we are a small city with really long streets. This fact means that we cannot offer the personal marketing information services that Littleton does. Chris and company are able to keep “canned” report for the Littleton geography and provide instant service to people who drop in. While the WMRC does maintain some pre-prepared reports, our experience is that different businesses are interested in different geographies.

In addition, it is very difficult to have a face-to-face conversation with a business person who is in Jackson (a mere 7 hour drive from from my home in Cheyenne!) One of the key components in Economic Gardening as I understand it is that you need to provide individualized service. The way that we manage that in Wyoming is by utilizing a distributed Economic Gardening model By this I mean that the WMRC provides the marketing research, GIS and other information resources. The information flows to the individual client via our network of partners who include the Wyoming SBDC, the Wyoming Business council, Manufacturing Works, GROBiz (Wyoming’s PTAC), UW, and other state agencies.

The key to making the distributed model work is having partners who will cross-refer client, who are willing to admit that others may have a more appropriate skill or knowledge set and who are more interested in the benefit to the client than to maintaining their own private fiefdom. This works well in Wyoming, but does seem to be a problem when other regions start looking at replicating what we do in this state.

Why Economic Gardening

Economic Gardening is a term invented by Chris Gibbons in Littleton, Colorado. I became aware of this program when I was hired to run the new Wyoming Market Research Center in 2003. Basically, an economic gardener is someone whose goal in life is to help grow small businesses locally by providing services and information that are normally only available to the largest of companies. More later.