Over the last 10 years companies have begun to regard Intellectual Property as an important and valuable business asset, not just as a cost of doing business. Active management of IP offers the opportunity to increase revenues, reduce expenses, mitigate risks, and choose complimentary partners for mergers, acquisitions and joint development efforts.
As new technical solutions continue to evolve and market conditions shift, previous core competencies are no longer critical to the longer term corporate strategic objectives. Existing patents, copyrights, and other intellectual capital should be evaluated in light of these changing corporate objectives to identify opportunities for sale, licensing, cross-licensing or reduced operating expenses through abandonment or donations of unwanted IP.
Active IP management also means that companies need to be defensively prepared for infringement claims against their own products, services and methods. This produces challenges and opportunities for legal firms engaged in Intellectual Property law. These challenges and opportunities require excellent business, legal and technical skills.
If you’re not managing your intellectual capital, it’s not contributing to your success. Having a patent issued is only the beginning; unless those rights are exploited – through internal use, licensing, or competitor exclusion – they are costing you money in maintenance fees and contributing nothing to your revenue stream.
We review your portfolio and provide the insight you require to manage these assets as a business unit. Patents which are not contributing to your competitive edge are ideal candidates for licensing, sale or a tax advantageous donation.
Active IP Asset Management includes: