A strong intellectual property (IP) portfolio is critical for technology companies to maintain a competitive advantage and drive company growth. Here are seven ways to protect your IP and strengthen your IP portfolio.
- Identify Your Intellectual Property Assets. You can’t take steps to protect your IP until it is identified. Create systems that discover these assets as part of your day-to-day operations.
- Consider All Types of Intellectual Property Protection. Learn how to use all four types of IP (patents, trademarks, copyrights, and trade secrets) to secure those assets.
- Use Provisional Patent Applications to Quickly Protect Inventions. Establishing an early filing date for your invention is important in the United States. Provisional patent applications offer fast and cost-effective protection of important inventions.
- Protect the Right Inventions. A valuable IP portfolio includes patents covering core technology as well as future ideas and inventions that are important to competitors.
- Watch Out for Public Disclosure. Implement systems to identify important inventions (so you can secure your patent rights) prior to public disclosure, such as trade shows, white paper publications, and press releases.
- Use Proper Agreements to Ensure Ownership of Your Intellectual Property. Use signed agreements that require all employees and contractors to assign IP rights to the company. Promote the use of non-disclosure agreements and confidentiality agreements throughout your organization.
- Develop An Innovation Culture. Encourage all team members to spend time on innovative activities, which creates a steady stream of new ideas and fosters a strong work environment.
Are you ready to create a plan to strengthen your IP portfolio? Apply for a complimentary IP Strategy Session where we will review your current IP portfolio and identify actions you can take to strengthen your IP protection. Apply for your complimentary IP Strategy Session at IPStrategySession.com.