Intellectual property is your most important business asset and is a key part of your business plan. In today’s IP centric economy, your business plan must include a strategic focus on protecting, managing and leveraging your intellectual property to build your business value and sustain your competitive advantage. Writing a […]
Commercializing IP is the process of transforming it from an intangible asset into a tangible product or service. You have 3 options for commercializing your IP: Sell, Make or License.
US companies annually waste $1 trillion in underused intellectual property assets according to a report by Forrester Research. The biggest reason for this waste is the lack of understanding by business owners and CEOs of how to manage and make money with these IP assets.
Presentations are the foundation of any licensing negotiation. It makes the case for why a company should license your IP. The secret is to make the presentation as compelling as possible to justify the time spent negotiating the IP license.
Trade secret law is the oldest form of IP protection. Trade secrets are most often in the form of inventions, know-how, and show-how information that gives you a competitive advantage. Examples of types of trade secrets include formulas, recipes, software, business processes, databases, customer lists and proprietary information. Anything that takes time, money, or effort to develop and that you don’t want your competitors to know.