Multinationals, Manufacturers, Distributors, and Other Global Supply Chain Stakeholders Encouraged to Provide Input to Standard
RESTON, Va.–(BUSINESS WIRE)–The Licensing Executives Society (U.S.A. and Canada) (LES) today announced a 60-day public review period for the LES draft standard “Protecting Intellectual Property (IP) in the Global Supply Chain,” to end on May 19, 2020. 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 all types of their own IP and the IP of customers, suppliers, and partners. Interested parties can participate in the standard public review period by visiting https://www.lesusacanada.org/page/Standards-Review.
The Committee’s vision is to achieve standardization around how companies develop and implement an IP protection management system. This standard seeks to supplement legal and contractual IP protection methods through performance standards and business processes that define the management systems required to protect all types of IP in the global supply chain.
The LES Standards Initiative encourages IP thought leaders around the globe to participate in the public review of the LES draft standard as part of the standardization process. As an Accredited Standards Developer of the American National Standards Institute (ANSI), LES provides a 60-day public review period to encourage manufacturers, distributors, and any interested stakeholders to represent each organization’s best interests while helping to shape this field for the future.
“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 legal companies. The document contains a set of requirements around 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; among others.
“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.”
Get Involved in the LES IP Protection in Supply Chain Standards Committee
To become a member of the LES Standards program and the LES IP Protection in Supply Chain Standards Committee, visit https://www.lesusacanada.org/page/lesstandards.
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 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.
LES Public Relations