Manage Your IP Portfolio for Disruption
Learn how to make strategic business decisions at the beginning of your company’s lifecycle, when getting your business started. This section breaks down and analyzes critical IP strategy considerations that your company will face at this stage of the business lifecycle.
Key takeaways
As you are setting up your business, remember many of its aspects can be protected with IP
Your business context should drive your IP strategy
IP rights are an investment in your business. If you don’t act now, you may lose out.
When working with others, get agreements in writing that lay out key terms
Choose your brand wisely and protect it.
Learn how to make strategic business decisions and manage your IP as your business changes. This section breaks down and analyzes critical IP strategy considerations that your company will face at this stage of your business.
Key takeaways
When your business changes, revisit your IP strategy to make sure it still supports your commercial objectives.
Think about potential disruptions as you build your IP portfolio. Shifts in the business models may render your IP more or less valuable.
As your business changes, consider if you can create new IP that delivers competitive advantages or drives value.
Review your IP assets regularly. Stop paying for assets that are no longer valuable to you or someone else.
Your IP may be valuable to others and can be a source of revenue. Consider if you can sell or license it.
If someone claims you’re using their IP without permission, take it seriously. Analyze the claim and get legal help to figure out the next steps.
Plan your IP portfolio for disruption
Craft your IP to have options as the environment changes.
IP assets can generate revenue, attract partners, and be used to support negotiations.
As you develop your IP portfolio, plan for disruption and assess where your business will be in the near and long-term future.
Revisit where to file for protection and consider:
Where will you (or your partners) make your offering?
What markets will you (or your partners) sell your offering in?
Where will your competitors make and sell your offering?
Review and update your IP strategy
Review your IP strategy when there are changes in your business,
such as changes involving:
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Competitors or their business
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Supply chain
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New technology
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Customers
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Business model
With every business change, consider if:
You have protection for what’s valuable.
You are using someone else’s IP.
IP can be used as a source of revenue.
There is IP you need to acquire.
Getting access to third party IP
If you need someone else’s IP, you can license it or buy it. Be sure you get everything you need including:
Ask the IP owner to prove they own what’s being sold or licensed.
Determine if you need help to use the IP, e.g., training, consulting time, manuals.
Ask if you can tell other people the IP comes from the owner.
Be clear about what happens if the IP becomes invalid or is no longer in force.
Ask the IP owner to pay damages if you are harmed by the agreement.
Cut costs and generate revenue from your IP
As technology and your business context changes, the value of your IP can too. You will need to review your IP portfolio regularly and ask:
Is the IP asset still relevant to your business?
Is the IP asset still relevant in the markets where it’s protected?
Is the IP asset relevant to others?
Once you establish your situation, you then need to take appropriate action:
If not relevant to you or others, stop paying for the asset or in those markets.
Consider letting others use your IP in exchange for compensation or other benefits.
What if someone accuses you of using their IP
Not respecting the IP rights of others can cost your business. You should take it seriously but do not panic.
Read the claim carefully and start with your own analysis to determine if you are using their IP.
Get legal help from an IP counsel.
It is both a technical and legal analysis which can help you determine:
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If you are actually using the IP in the legal sense.
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If you have permission to use it, e.g., a license or by law.
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If the IP is no longer in force or is invalid.
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If someone else is required to defend you or pay damages.
This may be a business opportunity. You may be able to create a mutually beneficial relationship with the IP owner.
Key takeaways
As you are setting up your business, remember many of its aspects can be protected with IP
Your business context should drive your IP strategy
IP rights are an investment in your business. If you don’t act now, you may lose out.
When working with others, get agreements in writing that lay out key terms
Choose your brand wisely and protect it.