Building a strong Intellectual Property (IP) strategy starts long before filing a formal application. To maximize your commercial value, your business needs a consistent process for identifying, capturing, and managing creative and innovative assets.
Understand What IP You Have
Intellectual property is not limited to high-tech machinery or formal inventions. Everyday business operations produce valuable IP, including:
- Patents: Protect unique technologies, software innovations, and technical processes.
- Trade Marks: Protect brand names, logos, domain names, and slogans that define your business identity.
- Registered and Unregistered Designs: Protect the visual appearance, shape, or aesthetic look of products.
- Copyright: Protect original written content, software code, design files, images, and marketing collateral.
Create an Internal IP Capture Process
Inventions and brand assets are easily lost if employees do not record them. Encourage your team to document technical designs, creative work, and new concepts as they arise. Establish an invention disclosure routine so management can review new ideas before they are shared publicly.
Keep Concepts Confidential
Premature disclosure is one of the most common ways companies lose patent rights. Disclosing a technical concept publicly before filing a patent application can invalidate future protection in many jurisdictions. Always use Non-Disclosure Agreements (NDAs) when discussing unfiled technical ideas or sensitive developments with contractors, external partners, or potential clients.
Secure Clear Ownership
Do not assume your business automatically owns all work created for it. While creations by full-time employees usually belong to the employer, work completed by external freelancers, agencies, or independent contractors often remains the property of the creator unless explicitly assigned. Ensure all employment contracts, contractor agreements, and supplier terms explicitly assign IP rights to your company.
Want to find out more about the importance of having an IP strategy?
Why Your Business Needs a Strategic Approach to Intellectual Property
Explore the 4-Part IP GOAL Series
- Generating Intellectual Property Rights for Your Company
Uncover techniques for spotting hidden intangible assets, setting up capture habits, and preserving trade secrets. - Obtaining Intellectual Property Rights for Your Company
Master the process of prioritizing filings, selecting optimal regions, and developing an efficient portfolio. - Avoiding the Intellectual Property Rights of Others
Learn how to execute clearance checks, audit competitors, and mitigate infringement exposures. - Leveraging Your Intellectual Property Rights
Investigate strategies to monetize portfolios via licensing agreements, tax schemes, and smart positioning.
If you would like to talk to us about what your options are, please contact us.
