Aligning IP and Business Strategy

Aligning your intellectual property strategy with your business strategy can help you and your company maximize the value of your intangible assets and gain a competitive advantage in the market both short and long term. Intellectual property (IP) is a company asset and should be managed as such. An IP strategy is simply a plan—consistent with the company’s business goals—to acquire and invest in IP assets and leverage the most value from them.  IP assets includes patents, copyrights, trademarks, technology, know-how, trade secrets and other forms of intellectual property.

Some of the benefits of having an IP strategy aligned with your business strategy include helping you:

• Identify and protect your core IP assets, such as patents, trade secrets, trademarks, and copyrights, that are essential for your innovation and differentiation.

• Avoid or minimize the risk of infringing third-party IP rights, by conducting freedom-to-operate searches and obtaining licenses or cross-licenses when necessary.

• Monetize your IP assets, by licensing, selling, or transferring them to others, or by using them as collateral for financing.

• Enhance your brand reputation and customer loyalty, by creating a distinctive identity and quality assurance for your products or services.

• Attract and retain talent, partners, and investors, by demonstrating your commitment to innovation and value creation.

Most important, aligning your IP strategy with your business strategy can help you and your attorney prioritize what types of protection are desirable and where to invest your funds for IP protection both short term and long term to maximize your competitiveness and valuation.