Do you have a clear strategy for Intellectual Property (IP)?

An IP strategy is a plan for how to manage intellectual assets in your business. These can include patents, trademarks, designs, trade secrets, software, or technical know-how.

The goal is to:

• identify your intellectual assets,

• protect them properly,

• use them to create value,

• and take action if others infringe on your rights.

A solid IP strategy helps you make better decisions. It makes it easier to:

• secure your assets before competitors do,

• avoid conflicts and loss of rights,

• commercially exploit your rights, e.g., through licensing or sale,

• demonstrate to investors and partners that you have control over your assets.

When you actively use your IP strategy, it can strengthen profitability and give you a competitive advantage.

Proper use of IP rights is just as important for success as financing, marketing, and sales.

Start by mapping your company’s intellectual resources. Which assets are most important for achieving your business goals? Are any missing? Get an overview of who owns the key assets.

It’s also important to highlight your intellectual assets in your accounts and to owners, partners, and other stakeholders.

1. Generate Revenue

Through products, services, licensing, and selling rights.

2. Attract Capital

Rights provide documentation and assurance for investors and banks.

3. Collaborate

Use IP rights in partnerships, joint ventures, and open innovation.

4. Reduce Costs and Risk

Avoid infringing others’ rights—and build on existing ideas legally.

5. Secure Market Position

Protect innovation, block competitors, control your value chain, and build your reputation.

1. Internal Procedures

Establish routines for collecting ideas from employees and securing proper ownership. Clarify what the business owns and what employees may take with them. Set up agreements and policies for employee inventions, portfolio reviews, competitor monitoring, and handling rights violations.

2. Confidentiality and Information Security

Ensure confidentiality through agreements with employees, consultants, and suppliers. Your company must understand the requirements for information to qualify as a trade secret.

3. Freedom to Operate

Clarify what your company can do without infringing others’ rights. Investigate existing rights and opportunities for collaboration.

4. Register Your Rights

Secure your rights by registering patents, trademarks, and designs.

5. Commercialize the Rights

Monetize your rights yourself or license them to others.

6. Monitor Your Rights

Keep track of what competitors are doing and whether your rights are being infringed.

7. Enforce Your Rights

Create a plan for handling infringements and seek expert assistance if needed.