Companies no longer have to hire a staff of engineers to commercialize innovations, companies that design products do not have to manufacture them.
Outsourcing improves ROI, makes a company agile, allows focus. The company doesn’t expend capital on plant, equipment, inventory, people, employee benefits.
At the event, Stephen Gillespie, Partner, Intellectual Property Group at Fenwick & West provided thoughts on decreasing risks in outsourcing relationships. A company engaged in outsourcing should consider: providing detailed and specific descriptions, deliverables, milestones and consequences prior to an engagement; managing the relationship based on agreements; considering consequences for cost overruns; being specific about budgets; clarifying intellectual property ownership agreements prior to project engagement; clarifying access to data.
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