Moscow-based MTS telecommunications company has created a unique tool for identifying and assessing legal risks related to intellectual property.
The large-scale project involved extensive work on analyzing and preparing changes to MTS’ business processes which could be impacted by IP-related risks.
The work, which took place in a number of stages, culminated in the development of an IP risk calculator to assess the extent of potential adverse consequences of legal risks and determine the likelihood of their occurrence.
The calculator is a unique tool allowing to determine the degree of risk, based on various parameters input into the calculation formula.
The tool’s formula takes into consideration several elements including the industry and other specifics of the business as well as case law and other legal factors.
The calculator is thus a flexible tool aiding in informed decision-making that factors in legal and business risks.
MTS officials, together with Victor Naumov, a partner attached to law firm Dentons’ St. Petersburg offices, as well as specialists from the Institute for Strategic Risk Analysis in Decision Making (ISAR), worked on the project together.
MTS cited, in regards to the reason for the creation of such a tool, the need for “up-to-date information about any potential risks” and to “optimize internal processes” in line with plans to actively diversify its business in Russia and beyond.