Finding the fruits of 'failure'

BETWEEN HALF and three-quarters of new products will fail each year. Most UK companies fear failure, but that failure can lead to unexpected success. For all companies, but particularly those in the IT sector, making the most of your intellectual property assets is a must. These are the company's crown jewels, but they should not be so tightly locked up that they cannot be used to their utmost. The solution to a struggling product already exists within most organisations - it just needs to be found; and, to find it, a culture of innovation must be inculcated.