As harsh economic realities converge with impressive technological innovations, the entrepreneurial spirit is as strong as ever with creative minds poised to deliver the next big breakthrough. For startups hoping to gain the attention of investors and possibly larger competitors, intellectual property management should follow closely behind product development on their organizational priority lists.

Ohio State University recently made a significant investment in student-led innovation by establishing a new $2 million facility for its Office of Technology Commercialization and Knowledge Transfer. The research center is meant to foster open collaboration between campus researchers and local entrepreneurs.

While some pundits have questioned the relevance and functionality of copyrights, trademarks and patents in a business community evolving at breakneck speed, the latest analysis from the U.S. Department of Commerce suggests that these intellectual property protections play an instrumental role in the nation's economic prosperity.

The advent of digital marketplaces and free online streaming services has been a point of contention for the music industry in recent years, with regulators struggling to ensure equity for content producers. In what is being described as a landmark settlement, the Recording Industry Association of America, the National Music Publishers' Association and the Digital Media Association recently came together with the Copyright Royalty Board to set forth new standards governing the revenue generated by innovative new music delivery models.

As the name would imply, trade secrets constitute a unique competitive advantage possessed by a company that must remain under wraps and diligently protected at all times. The problem is, many companies lack of full understanding of the trade secrets that could be, or already are, in their IP portfolios.

For most companies entering the patent system for the first time, the primary motivation is to gain protection for new inventions. After a prolonged application and approval period, some may be content to sit back and relax after accomplishing their initial goal. In reality, intellectual property strategies are only just beginning after patents and trademarks are awarded.

In an era of increasingly globalized commerce, some of the most significant issues and challenges facing the intellectual property community have international roots. As a result, it is crucial for regulators to come together across borders to promote common interests. With that idea in mind, the U.S. Patent and Trademark Office recently formalized a permanent Patent Prosecution Highway with the Hungarian Intellectual Property Office.

Business managers understand the variety of benefits associated with a deep and diversified intellectual property portfolio. But according to Genetic Engineering & Biotechnology News columnist Tom Tuytschaevers, companies could well be sitting on more patentable inventions than they realize.

The U.S. Patent and Trademark Office announced the debut of its After Final Consideration Pilot program in alignment with its ongoing efforts to increase collaboration between the patent review board and applicants while streamlining the prosecution process.