Innovation Asset Blog

Diligent IP management keeps innovation on track

Companies that neglect to manage their intellectual property thoroughly can expect to face many consequences. According to InfoWorld, each factor can be devastating to a business, both on their own and in combination.

If a company lets its IP management plans fall out of alignment, it may be eventually find itself financing legal defenses or even paying licensing fees for products or components that they originally invented. With no clear paper trail to establish their primacy, alternate entities could stake claim to the disputed invention and demand damages for infringement if licensing terms are not agreed to. 

This reality can discourage research and development teams to the extent that they choose not to create new products for fear of enduring misappropriation and/or litigious expenses. While it is hard to calculate the exact value of this lost innovation, companies will almost certainly feel the effects of such decisions in their business agenda. 

Rather than invite negative consequences like the loss of money or stagnation of creative progress, companies should be sure to exercise their due diligence in all matters of intellectual property management.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.