These are interesting times for developments and investments in emerging tech sectors. Ford invested $1 billion in Argo AI, and Fiat Chrysler teamed up with BMW and Intel in the race for the driverless car market. Facebook filed for a patent to make augmented reality glasses, putting it in competition with Microsoft’s Hololens and Snapchat’s Spectacles. The limits of cloud computing are beginning to emerge while the uses for 3D printing continue to grow each day to fabricate items like clothing or home construction materials. Genomics firms are suing each other over patents covering the sale of DNA analysis machines. In the Bay Area, The Mercury News reports that California is the leader in green tech but that the strong economy is putting more emissions in the air due to commuters – creating yet more challenges and opportunities.
Managing your organization’s intellectual property portfolio is just as important as managing your business. Anyone managing a business understands the importance of maximizing the return on investments in employees, equipment, and products, but many organizations overlook or shortchange the IP.
Intellectual property (IP) rights are valuable assets for any business and play a key role in setting you apart from your competition. It is imperative for organizations to capture, review and act on innovative ideas rapidly, and nearly impossible to do it manually. An increasing number of organizations are using intellectual property management software to manage their IP assets more effectively.
Businesses often don’t have trouble managing their intellectual property (IP) budgets when first starting out. With a small IP portfolio, the costs of obtaining and maintaining protection are easy to track. As those businesses scale, however, there are more assets to keep track of, and more bills to pay. Let’s take a look at this challenge, the risks associated with letting your budget get out of hand, and some keys to management that can help you maintain control.
Innovation has been a constant - and increasingly faster exercise - for visionary businesses, especially now that technology evolves at such a breakneck pace. Innovation means an opportunity to differentiate and be that much more competitive in your industry. It’s not enough to have one revolutionary idea one time, however; companies need to keep up the momentum. That’s why having at least one innovation expert on staff is crucial.
Intellectual property is the capital of ideas. It is everything left over after cash and tangible assets, which these days is most of any given company. It is “intellectual” because it is value that’s created from the neck up. It is “property” because it can be legally protected, bought, sold, traded, donated, collateralized or otherwise controlled.
When you search for “trademark services” on Google, the first thing you see is a set of advertisements. They offer different pricing for handling the submittal of your trademark application to the United States Patent and Trademark Office (USPTO) on your behalf. If your application ends up being approved by the USPTO and unopposed by any third party, you’ve successfully trademarked your logo, name, or some other representation of your product or company.
You’ve got a newly developed asset to protect. The nature of that asset seems clear, but you want to employ the most complete protection possible in order to minimize competitive threats and loss of revenue. Which protection is the right one?
When faced with large amounts of data in their intellectual property (IP) portfolios, even the most experienced innovation leaders get bogged down figuring out what to do with it.