Strategic Intellectual Property Management in SMEs: An ISO 56005-Based Approach

Juan Carlos Suárez D. 

Director of IP Management & Technology Transfer, Universidad El Bosque | Lecturer and International Consultant in IP Management & Technology Transfer.

María Camila Duque

IP Management Coordinator, K-Intangibles IP Strategy & Tech Transfer | Lecturer and Consultant in IP Management.

1. Why is IP strategic for European SMEs in Latin America?

Operating in international markets requires more than just good products or services: companies must know what they have, how to protect it, and how to turn it into a real competitive advantage. For European small and medium-sized enterprises (SMEs) seeking to enter or consolidate their presence in Latin America, Intellectual Property (IP) is precisely that differentiating factor.

The region offers significant business opportunities in sectors such as technology, agribusiness, renewable energy, and the digital economy. However, it also presents specific challenges: heterogeneous regulatory frameworks, varying levels of enforcement, and market dynamics that do not always replicate the European experience.

In this context, properly managing IP is neither a luxury nor merely a legal procedure: it is a business decision.

The ISO 56005:2020 standard on Intellectual Property management in the context of innovation provides a structured framework for organizations -especially SMEs- to integrate IP into their innovation management system and align it with their business objectives. It is not a standard designed exclusively for large corporations; rather, it is a guide intended to make the management of intangible assets accessible, systematic, and results-oriented.

“IP ceases to be merely a legal component and becomes a driver of growth, internationalization, and value creation.”

2. IP as a Strategic Asset: Beyond Protection

One of the most relevant contributions of ISO 56005 is the shift in perspective it proposes: IP should not be managed solely as a defensive mechanism, but rather as a value-generating asset. This radically changes the way companies make decisions regarding their intangible assets.

In practice, well-managed IP can:

• Support competitive advantage through technological exclusivity or brand differentiation.
• Facilitate entry into new markets, especially in internationalization contexts.
• Increase company value in the eyes of investors or strategic partners.
• Enable business models based on licensing or technology transfer.

For a European SME interested in Latin America, this translates into practical questions such as:

• Should the technology be protected in every country in the region, or should key markets such as Brazil, Mexico, or Colombia be prioritized?
• Is it more efficient to patent or maintain a trade secret in contexts where law enforcement may be uneven?
• How can the brand be used to build trust in markets where the company is not yet well known?

Answering these questions from a strategic rather than purely reactive perspective is precisely what distinguishes companies that leverage their IP from those that simply accumulate it without exploiting it.

3. ISO 56005 Principles Applied to Business.

ISO 56005 establishes a set of guiding principles for IP management within organizations. Below, these principles are presented from a business perspective, with examples applied to the EU–LATAM context.

    3.1 Value Creation

IP should directly contribute to the generation of economic or strategic value. The objective is not to accumulate registrations, but to use them to strengthen the business. For example, an SME may use its patents not only for protection but also to negotiate licensing agreements in Latin American markets where it does not directly operate.

    3.2 Leadership and Commitment

Top management must integrate IP into strategic decision-making. This means that IP cannot be delegated solely to the legal department; it must be part of discussions regarding international expansion, product development, and commercial partnerships.

    3.3 Strategic Alignment

The IP strategy must align with the company’s business model. There is no one-size-fits-all formula:

• Deep-tech companies: tend to place greater emphasis on patents.
• Digital companies: tend to combine software, data, and trade secrets.
• Consumer companies: focus on trademarks and designs.

    3.4 Systemic Approach

ISO 56005 proposes managing IP as part of the innovation system, not as an isolated function. This means integrating it into R&D, marketing, business strategy, and partnership development.

    3.5 Uncertainty Management

IP helps reduce risks associated with innovation, especially in international contexts. A practical example is evaluating freedom to operate (FTO) before launching a product in a new country, thereby avoiding costly legal disputes.

    3.6 Adaptability

IP strategies must be adapted to each market. In the EU–LATAM context, this involves considering the level of legal protection available, registration costs, and the strategic relevance of each country.

4. The ISO 56005 Model: How to Implement It in an SME.

The standard proposes a practical model structured around three interrelated components:

    4.1 IP Management Framework

This component establishes the organizational foundations for systematically managing IP. It includes:

• Context analysis (internal and external): capabilities, portfolio, markets, competition, and regulation.
• IP policies: confidentiality, disclosure, and ownership of assets.
• Clearly defined roles and responsibilities: management, technical leaders, and legal advisors.
• Organizational culture: awareness and basic training in IP.

Practical example: a European SME collaborating with universities in Latin America should define clear rules from the outset regarding ownership of results and confidentiality of shared information.

    4.2 IP Strategy

The strategy defines how the company will use IP to achieve its objectives. This includes defining technological or commercial priorities, protection criteria, and territorial strategy.

EU–LATAM example: a company may choose to protect patents in Europe, use trade secrets in certain regional markets, and prioritize trademark registration in the most relevant consumer markets.

    4.3 IP Integrated into the Innovation Process

IP should be present at every stage of innovation development. The standard illustrates this as follows:

This preventive approach avoids two common SME mistakes: premature disclosure of innovations without prior protection and loss of rights due to insufficient documentation.

5. Tangible Benefits for European SMEs Operating in Latin America

Adopting an ISO 56005-based approach generates tangible and measurable benefits:

• Better decision-making: enables strategic decisions regarding what to protect, where, and when, according to expected business impact.

• Risk reduction in complex markets: lower exposure to infringement, better contract management, and effective confidentiality control.

• Access to financing and partnerships: well-managed IP increases credibility with investors and strategic partners.

• Revenue generation: through licensing, technology transfer, and commercial expansion.

• Sustainable competitive advantage: especially relevant in emerging markets where differentiation can be decisive.

6. Self-Assessment Checklist for SMEs

Below is a practical starting point for any SME to evaluate its current IP management situation:

7. Practical Recommendations

• Prioritize strategic markets instead of seeking global protection.
• Concentrate resources where business impact will be greatest.
• Adopt mixed strategies: combine patents, trade secrets, and trademarks according to the context of each market.
• Formalize agreements before collaborating. Confidentiality agreements and ownership agreements should exist before starting any joint project.
• Avoid disclosures without prior IP evaluation: a presentation, publication, or technical discussion may compromise future rights.
• Integrate IP from the early stages of the innovation process. Waiting until the product is finished may be too late.

8. Conclusion

ISO 56005 proposes a fundamental change in the way organizations understand and manage their Intellectual Property. Rather than treating it as a repository of registrations, the standard promotes an integrated management system that connects intangible assets with business objectives and the innovation process.

For European SMEs with ambitions in Latin America, this approach is particularly relevant: it enables better protection, lower risk, and greater ability to take advantage of opportunities in a dynamic and expanding market.

“IP ceases to be a cost or merely a legal component and becomes an active instrument of competitiveness and internationalization.”

About the Authors

Juan Carlos Suárez Delgadillo. Director of IP Management & Technology Transfer at Universidad El Bosque and Strategy Director at K-Intangibles. Lawyer from Universidad Externado de Colombia, with a Master's degree in Intellectual Property from the University of Ankara (Turkey) and WIPO. Specialized training in IP Management and Technology Transfer in Israel, France, the United States and Singapore. International Consultant and Trainer in IP Management and Technology Transfer for WIPO. 

🔗linkedin.com/in/ipstrategistjuancarlossuarez

María Camila Duque Díaz. IP Management Coordinator at K-Intangibles IP Strategy & Technology Transfer. Lawyer from Universidad de Caldas, with a Master's degree in Intellectual Property and Innovation from Universidad de San Andrés (Argentina) and WIPO, and a Specialization in Intellectual Property and New Technologies from Universidad Externado de Colombia. Advanced Training in IP Commercialization in Singapore. Consultant in IP Management with specialized experience in the university sector across Latin America.

🔗 linkedin.com/in/maria-camila-duque-diaz 

In the next episodes...

Article 2: “How to define an Intellectual Property strategy aligned with the business model”

Article 3: “IP Audit: inventory, valuation, and risk management”

Article 4: “IP Due Diligence: preparing for investment, partnerships, and international operations”

Article 5: “From Protection to Exploitation: Operating IP with a Strategic Approach”