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Article: You need an intellectual property strategy: define the benefits of your IP to know how to protect it.(ADVICE: LAW)
- Article from:
- Indiana Business Magazine
- Article date:
- September 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Curtis Magazine Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MANY DECISIONS involving intellectual property are made without a strategy. This leads to protection that is not cost effective, intellectual property that has no specific purpose, and increased risk of problems. With no strategy, some businesses elect to do nothing about intellectual property because they cannot see the benefits.
The primary objective of intellectual property protection should be commercial exploitation. While the ability to use intellectual property protection offensively can provide support for commercial exploitation, it should not be the primary objective.
There are three reasons to exploit intellectual property: (1) to increase ...