Managing Your IP: It’s smart business to manage your intellectual property portfolio, because it is valuable to your business.
Some of the steps that would be taken to protect intellectual property are:
- Keep detailed files that establish the history of the intellectual property/assets
- Establish regularly scheduled IP strategy meetings
- Develop and implement procedures to protect these assets
In addition, keep an eye on the marketplace and conduct periodic analysis to uncover possible infringements of patent and trademark rights. If a competitor is infringing an asset, it could diminish the value received to the patent or trademark owner/licensee.