Stephen Glazier shared guidance for corporate teams planning to launch an innovation program, and how to allocate the necessary funds. In an article for Law360 titled, “A Tool For Budgeting Corporate Innovation Program,” Glazier shared an algorithm to help evaluate a company's innovation program. The algorithm produces an innovation score that provides an objective quantification of the impact of the proposed innovation program.
Glazier explained, “This score acts as an index to rank the subject company among its peer group of competitors. Then to manage by objectives, the chief financial officer can choose what ranking he wants his company to target for next year. Note that the innovation score is a function of various objective parameters such as the number of new patents, patent application expenses, patent litigation expenses, R&D expenses, revenues, the growth of revenue, the operating margin, and the growth in profits.”
In addition, Glazier provided multiple case studies of his approach.