Discover the power of IP linking, a strategy companies use to bolster their protection and gain a competitive edge. In a nutshell, IP linking combines your products and services with your intellectual property (IP) in various ways.
Consider the example of a patented phone wrapped in a trademarked brand like Apple. You establish two layers of protection by combining a trademark and a patent. Your trademark extends beyond the lifespan of your patent, thus prolonging the safeguarding of your underlying invention.
The realm of trade secrets and trademarks is vast and lucrative. Trade secrets, such as formulas and recipes, hold perpetual value as long as they remain confidential. Similarly, trademarks endure if adequately maintained. Immerse yourself in the success stories of iconic brands like Coca-Cola and Kentucky Fried Chicken, which tightly link trade secrets with their trademarks to create remarkable value and build thriving businesses.
Another powerful combination is copyrights and trademarks. Take, for instance, the Harry Potter books, which began as copyrighted works that evolved into a trademarked brand. This synergy allowed for expansion into merchandise, movies, TV shows, and more. Linking copyrighted and trademarked IP generates substantial value and opens diverse market opportunities.
In today’s technological landscape, patents, and trade secrets reign supreme. Most industries rely on patented technologies that connect with customers, generate data, and enhance user experiences. These technologies often incorporate trade secrets in the form of computer chips, source code, algorithms, and other valuable assets. Healthcare, smart cars, and industries with abundant data are prime examples. Combining patents and trade secrets is a highly effective strategy many successful companies deploy.
Evaluating whether patenting or maintaining your technology as a trade secret is the optimal course of action is crucial. If your technology’s value lies in its back-end components, keeping it as a trade secret could yield more significant benefits than obtaining a patent. This approach, sometimes called IP stacking, involves layering multiple forms of IP to create enhanced value.
The same principle applies to software, illustrating the case of Windows, which incorporates various forms of IP. From trade secrets to copyrights and trademarks, the comprehensive linking of IP components amplifies the value of the software. This strategy can be applied to any business looking to maximize the potential of its IP assets.
By effectively linking your IP, you also open up lucrative licensing opportunities. Conducting an audit to understand your IP assets and their potential for licensing is paramount. Your brand, trademark, and other IP assets combined with strategic licensing arrangements can become a significant value driver for your business.
There are many strategic options when it comes to using your IP. One is the power of IP linking to strengthen your protection, unlock greater value, and seize new growth opportunities.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. His first book, Hidden Wealth: The Money Making Power of Licensing was released in 2019 and is available on Amazon.com. He’s also a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.