For a lot of start-ups, intangible IP assets are a significant part of their value proposition.
But most businesses don't even know what IP rights and assets they have.
You may have unique technology, trade marks, designs, copyright, confidential information, proprietary processes, or trade secrets.
I can help you to identify and understand what your key assets are and where your value lies. I can then help you to build processes to capture their creation in future.
Ensuring that you have a sensible, scalable strategy which prioritises which assets should be protected and when, and how they should be managed, is key.
Every business has different needs and ambitions, different markets and resources; so the right approach will always differ depending upon these factors.
With a bespoke strategic roadmap laid out, your legal spend can be allocated wisely, focusing on the IP that delivers the most strategic value for the future success of your business.
Proactive IP strategy also plays a huge role in risk management, so the importance of early planning cannot be overstated.
If you're not proactive, you risk someone else registering a similar trade mark or stealing your idea, which could lead to costly legal battles.
Conversely, understanding your rights can help you avoid infringing on the IP of others.
The right level of IP protection can not only safeguard your business but also increase its valuation in the eyes of investors or buyers.
To secure formal IP protection, businesses should register their most valuable assets with relevant authorities. This step provides legal recognition of the ownership and strengthens the ability to enforce IP rights.
Other assets, such as trade secrets and confidentiality, should be protected with other strategies, such as NDAs, internal security measures, document control and employee training.
When collaborating with third parties (e.g., joint ventures, research partnerships, suppliers, or distributors), you should ensure that your IP is protected by way of contracts and agreements.
A comprehensive IP enforcement strategy should be proactive, responsive and adaptable.
The key components will usually entail putting watching services in place and involve regular online monitoring of social media platforms and marketplaces.
Not all infringements are worth pursuing, and so establishing an infringement response plan, which first assesses the seriousness and type of infringement, and sets out any appropriate next steps for escalation, will ensure that your business reponds in a timely, cost-efficient and proportionate manner.
Strategies for working with Customs and Border Patrol can also play a crucial role in preventing infringing goods from entering the market.
The value of your IP assets may increase significantly as your company matures e.g. trade marks with significant brand equity.
Many businesses then take advantage of this value to generate additional revenue through licensing the right to use or selling their IP.
Valuable IP assets can also be used as collateral for securing loans or attracting investors.
IP can also be leveraged to attract sponsorship or profit-sharing collaborations with other brands, and it can be franchised in exchange for ongoing royalties.