Building Consensus to Advance Innovation

Reston, VA, February 16, 2017 – The Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is now an Accredited Standards Developer (ASD) of the American National Standards Institute (ANSI). As an Accredited Standards Developer, LES will continue leading the effort toward industry self-regulation of commercial transactions involving technology and intellectual property rights.

Intellectual property is an increasingly important part of the global economy. Durable and reliable intellectual property rights enable us to harness innovation to foster growth in existing industries, and give rise to new ones. LES is the global leader in facilitating transactions involving intellectual property rights through education, standards development, and professional networking. LES is especially well suited to coordinate efforts among all members of the innovation economy to identify and promote ethical practices that will enhance economic efficiency, speed new products to market, and serve the public interest.

ANSI accreditation is the culmination of two and a half years of work by LES to engage stakeholders, devise protocols, and secure ANSI accreditation as a developer of voluntary consensus standards in IP management. Having secured that accreditation, LES will continue recruiting stakeholders who will participate in the ongoing development of IP management standards. Those standards will boost economic development and increase shareholder value by identifying and reducing risks inherent to innovation and product development.

“ANSI’s accreditation of LES is a great step forward for the licensing profession,” LES President and Board Chair Brian O’Shaughnessy says. “It confirms that LES has created an open, transparent, and equitable plan for the development of meaningful voluntary consensus standards for IP management and licensing. By engaging the entire industry, and drawing upon its vast expertise, we will create a rich body of standards that are practical, prudent, and in the public interest.”

“The management of IP and other intangible assets remains largely unaddressed by financial and accounting rules, even as IP value makes up some 70 percent of the equity value of our publicly traded companies,” LES Chair-elect Bill Elkington says. “We encourage IP thought leaders around the globe to participate in this standardization process in order to represent each organization’s best interests and to learn from one another while shaping this field for the future.”

Many diverse members of the innovation economy are already participating in LES Standards, including operating companies (both large and small), universities (both public and private), IP valuation companies, IP consulting companies, IP brokers, and law firms. With ANSI accreditation, that number will grow. The LES Standards initiative comprises five committees: patent licensing, IP brokerage, IP protection in the supply chain, IP valuation, and IP in the boardroom. Membership in LES and LES Standards is open to all. For more information, go to the LES website.