Partnerships in Health Innovation: Expanding Paradigms of Private Profit and the Public Good
But for all the advantages that have made P3s increasingly inevitable, these partnerships have not become less complex. Clarifying governance and decision-making, managing inconsistent perceptions of risk, enforcing ownership and accountability, aligning incentives, ensuring access to innovation: these are just a few of the considerations that distinguish success from failure.
Realizing the full potential of a P3 is often impeded by the diversity of objectives, priorities and experience among partners and requires advancement on five imperatives:
- Establish governance mechanisms that enable appropriate participation in decision-making
- Instill a predictable approach to communication among partners and with stakeholders
- Develop IP policies that balance the needs of each partner with the objectives of the partnership
- Align partners around the conditions, processes and timelines for making products/technologies available
- Cultivate an industry mindset by applying business discipline early in technology development