LES Standards Committee Initiates Public Review of New Standard
Monday, March 30, 2020
Licensing Executives Society Standards Committee Initiates Public Review of New Standard for Protecting Intellectual Property in the Global Supply Chain
Manufacturers and Other Global Supply Chain Stakeholders Encouraged to Review and Comment on Standard
RESTON, Va. – March 30, 2020 -- The Licensing Executives Society (U.S.A. and Canada), Inc. (LES) today announced the start of a 60-day public review period for the LES draft standard "Protecting Intellectual Property (IP) in the Global Supply Chain." This formal call for comment is made by the American National Standards Institute (ANSI), as published in the March 27th edition of the ANSI Standards Action. Stakeholders are invited to comment on the standard through the public review period, which expires May 26, 2020. Stakeholders and the public at large can review the standard and provide comments by visiting https://www.lesusacanada.org/page/Standards-Review.
Developed by the LES IP Protection in Supply Chain Standards Committee, the draft standard defines a common set of expectations for what companies can and should do to protect their own IP and the IP of customers, suppliers, and partners. The Committee's vision is to develop voluntary consensus standards for business processes requiring the disclosure and sharing of IP throughout the supply chain, from concept through finished product. It represents a consensus of a diverse collection of stakeholders in supply chain manufacturing. The standard is not intended to replace legal and contractual IP protection methods, but instead to supplement them by establishing performance standards for an IP protection management system and business processes designed to protect all types of IP in the global supply chain.
As an ANSI-Accredited Standards Developer, LES encourages IP thought leaders everywhere to participate in the development and review of these voluntary consensus standards for IP management practices that are fair, effective, and prudent. The LES Standards Initiative encourages IP and supply chain thought leaders around the globe to participate in the public review of the LES draft standard.
"The LES IP Protection in Supply Chain draft standard provides guidelines for fostering a stronger culture of IP protection throughout the supply chain," said LES President and Chair of the Board Gary Fedorochko. "The draft standard will help companies understand that filing patents, registering trademarks, and relying on contracts are not enough to protect IP in today's global economy. We hope that ultimately the standard will help companies gain a competitive advantage by demonstrating that they have a commitment to protect IP -- and that they are doing something about it."
The LES IP Protection in Supply Chain Standards Committee is led by subject matter experts from organizations across the supply chain industry, including operating companies, academia, consulting firms, and law firms. The standard provides a consensus view of effective practices in areas such as: IP policies and procedures; risk assessment; third-party management; information technology and physical security; monitoring and corrective actions; training and awareness building; and senior management commitment.
"The LES IP Protection in Supply Chain draft standard is one of the first to address protection for intellectual property in the supply chain," said LES IP Protection in Supply Chain Standards Committee Chair Craig Moss. "Our goal is to create shared expectations for the elements of an IP protection management system and to enable any company to show that it has the business processes in place to protect its own IP and the IP of third parties -- customers, suppliers, distributors, joint venture partners, and anyone else involved. In today's digital world, protecting IP is critical to all companies regardless of their location and position in the supply chain."
Join the LES Standards Initiative
To become a member of the LES Standards Initiative, and any of its working committees, including the LES IP Protection in Supply Chain Committee, visit https://www.lesusacanada.org/page/lesstandards. Participation in the LES Standards Initiative affords enterprises and individuals the opportunity to participate in the creation of consensus-based, voluntary standards for IP management, and to learn first-hand from peers about IP practices developed and deployed throughout the innovation ecosystem.
About the Licensing Executives Society (U.S.A. and Canada), Inc.
Established in 1965, the Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is a professional society of 2,500 members engaged in the creation, commercial development and orderly transfer of intellectual property rights; protection and management of intellectual capital; and intellectual capital management standards development. LES members are accountants, business leaders, business model innovators, consultants, dealmakers, economists, engineers, IP valuation experts, lawyers, licensing executives, lobbyists, merger and acquisition experts, public policy leaders, scientists, strategic planners, supply chain managers, tax specialists, and technology transfer specialists. These members represent innovation-centered enterprises of all sizes and kinds — such as government laboratories, professional services firms, universities, operating companies, regulatory authorities, licensing specialty firms and trade associations. LES is a member society of the Licensing Executives Society International, Inc. (LESI), which has 32 sister societies representing 8,000 members in 90 countries. www.lesusacanada.org.