Capturing and protecting innovative activity is crucial for any business looking to maximize the value of its intellectual property. Without the right people, processes, systems, and technology in place, IP management tends to be ad hoc and reactive. Implementing a formal IP program will integrate IP management into the overall business, providing the necessary support for innovative activity.
What is an IP program and why have one?
An IP program is an organizational approach to actively managing resources that support innovation. IP programs (i) manage IP protected by patents, trademarks, copyright, confidential information, trade secrets and data, (ii) increase the pace of innovation and (iii) make decisions consistent and efficient, freeing up resources to better serve the business in other areas.
An effective IP program is multi-pronged and must identify valuable innovation, capture and protect that innovation as IP, and manage any IP risks that arise.