Intellectual Property Asset Management Best Practices

Strategic Intellectual Asset Management enables your Company to meet its Corporate Strategy

By protecting products and markets, supporting innovation and R&D, and contributing to the foundation of new corporate businesses, IP Management is a key contributor to shareholder value.

Through patents, trademarks, copyrights, and trade secrets, your corporate IP portfolio provides critical legal protection to products and markets, and assures company’s brand equity with customers. This protection allows your company to recoup its huge investment in R&D and marketing.

Intellectual Asset Management supports your corporate innovation processes and R&D by allowing new ideas and inventions to be captured by the business as IP and know-how. Better Intellectual Asset Management works to foster innovation by assuring that discoveries will be identified, protected and rewarded.

Intellectual Asset Management allows your company to realize additional value from its corporate structure (centralized or decentralized). By heightening awareness of the importance of IP as a corporate asset, your business units can be encouraged to maximize the value of their IP– not only in their own business, but so that technology can be used throughout the enterprise.

Intellectual Asset Management also provides a foundation for being forward-thinking about technology trends of the future. By having a keen awareness of your company’s own IP portfolio, managers can compare competitor positions to understand and develop long-range plans for moving into new product and market areas.

Benefits to your company of more strategic Intellectual Asset Management

Improved intellectual asset management enables companies to go beyond the mere tactical use of IP. With a more strategic view, companies can realize more value from their intangible assets.

Extending market exclusivity

Licensing-out revenue

Proactive enforcement of IP

R&D improvements

Tax benefits

Intellectual Asset Management (IAM) is a continuous management approach that focuses on leveraging patents, trademarks, trade secrets, copyrights, know-how and other proprietary assets to support and improve overall business performance.

Intellectual Property Asset Management Model

Intellectual Property Asset Management Best Practices includes:

Aligning intellectual property assets to your business strategy and goals
Establish annual assets report to update business management
Conducting an annual portfolio review
Benchmarking against peers and best practices
Classify patents and trade secrets by business use
Conduct competitive technology assessment
Identify key patents (Strategic importance and commercial significance)
Manage all patent costs (Preparation and prosecution, maintenance, and internal support)
Establish standards for prioritize disclosures and patent filing decisions
Maintain an intellectual property assets training program to improve internal knowledge
Establish an online knowledge center with policies, procedures and contacts
Establish an organized database with all intellectual property assets