Intellectual Property Strategy Goals
Intellectual Property (IP) is an important business asset. An Intellectual Property Strategy can enhance a business by increasing revenue, providing a competitive advantage, attracting capital investments and positioning the business as an “innovator”. Establish a strategy to leverage IP in your company and set IP Strategy goals (both short-term and long-term) that support business objectives. Read more »
Intellectual Property Law, Law, Patent | admin July 28, 2009 | 
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Every business has confidential and proprietary knowledge that must be managed properly. This includes internal business procedures, customer lists, research and development records, inventions, product development plans and marketing plans. Access to this type of knowledge should be controlled to protect the interests of the company. Carefully monitored company policies and procedures are useful in protecting company assets. 
Intellectual Property (IP) assets are important to many companies. Proper leverage of IP assets can provide a competitive edge, increase revenue, extend product lines and create an “innovation culture” within the company.
A SVP at a large consumer products company recently expressed frustration that he cannot bring a patent infringement lawsuit even when his company holds 18 US patents (and many other foreign patents) on a product that closely resembles a competitor’s product. His annoyance is compounded because his company spent several years developing the product and technology covered by the patents. His company also spent several $MM introducing the product, which turned out to be a failure. The company removed the product from the market after several months, but the many patents remain in the portfolio today, and are still being maintained at considerable expense. I estimate that the patent protection for this failed product cost as much as $500K for patent coverage worldwide. 
To understand intellectual property you first need to understand what intellectual property is. If you have created something such as an invention that you have the legal right to this and no one else can copy your creation. If they do you have the right to sue them in a court of law. there are many categories when it comes to this type of law such as patents, trademarks and copyrights. If you have a trademark on a certain name brand then it allows you to use the brand in any way you feel necessary. Nobody is allowed to use that brand name to make a profit from it because it is legally yours. 
For a service business it is particularly important to identify and manage Intellectual Property (IP). This article explains what IP is and how you can use it to benefit your business. Many people get confused about IP. In simple terms, Intellectual Property represents the property of your mind or intellect. In business terms, this also means your proprietary knowledge.