Creating a strategy for your organization’s intellectual property can be critical for both emerging and mature companies alike. Above all else, a patent strategy can create scope for an organization. Similar to what a business plan provides for the company as a whole, a patent strategy provides a “bigger picture” view for what the patent looks like now and perhaps more importantly, what it will look like in the future. This view enables the organization to leverage the patent continuously and create sustainable competitive advantage. Additionally, for emerging companies, a well-thought out patent strategy can be a signal of commitment to investors or stakeholders.
For new inventors or scaling companies, the patent application process can be tricky and weighing the filing options can be even harder. On one hand, filing with an intellectual property lawyer can make the process much easier, but on the other hand, the attorney fees associated with filing patents can be daunting. How do you decide which is the better option?
One of the most critical parts of becoming a successfully innovative company, is hiring the right employees to innovate. Though in today’s competitive job marketplace, startups and established organizations alike are competing to employ the next great minds and it can be difficult to compete for the best candidates. In this situation, what’s the best way to hire for innovation at your organization?
By now, you’ve learned that intellectual property (IP) is a critical organizational asset and that it should be managed with diligence. However, your current IP management process is clunky and important details are falling through the cracks. You want to implement IP management software to gain control and efficiency, but you’re getting pushback from senior management that IP management is not a priority. You know that IP diligence is a senior management and board-level strategic issue as much as an operational, and IP management software will lead to long term benefits, but how do you build that case?
Developing a process to manage your organization’s intellectual property (IP) can be challenging. A process needs to be built based on best practices and efficiently enabled. There are a few options and it can be difficult to know which is right for your organization. Here’s a brief breakdown of each option: manual, outsourcing, building an in-house solution, or buying “out-of-the-box” IP management software.
All intellectual property (IP) should be managed and used by organizations as strategic business assets, but trademarks - compared to their IP counterparts - especially run the risk of being overlooked. Effective trademark management is incredibly important not only to leverage these IP assets but also to guard the organization against threats to its brand. There are a number of internal and external issues that impact trademark management.
In today’s highly competitive marketplace, innovation has become a necessity. Innovation allows companies to grow, not only in profits, but in market share and brand recognition. As the rate and quality of demand from consumers and B2B customers increases, so do their expectations that what you’re selling them is the most up-to-date, cutting edge product they can buy. If you’re not suitably invested in innovation, you can bet that your competitors are.
On the first day of my very first job as an electrical engineer, I recall sitting with the HR Director going through a stack of employment paperwork ranging from my W4 for tax withholding, to life insurance beneficiary information. Being as I was a fresh college graduate, the Assignment of Work Product agreement that I was asked to sign was somewhat unexpected.
It is somewhat hard to believe given the influx of high-definition touchscreens today, but there was in fact a time when the world was void of any digital screens. Nevermind high-definition, plasma or fiber optics, much less handhelds, touchscreens and flexible screens. The digital screen may actually be one of the greatest contributors to human technology advancement, as without screens we wouldn’t have had the personal computer movement, the mobile revolution, e-readers, modern health care delivery systems, handheld gaming devices, and much more. The impact that screens have had on media, communications, transportation, entertainment, and education, among other areas, is truly remarkable.
The “Patent Box” is a corporate income tax reduction program offered by a growing number of countries. Tax reductions are given for income derived from patent-related activities. Details vary from country to country and might not yet exist in your jurisdiction of operations. Among the countries with active Patent Box systems are the UK, The Netherlands, Belgium, Luxembourg, France, Spain and Hungary, and the list is growing. Patent Box legislation is under active consideraton within the US.