If you look at the books of large businesses these days you will see that their intellectual property (IP) adds a enormous amount to the balance sheet. In fact most businesses fixed assets are minute in comparison to the brand and IP value. This tells us something very interesting - yes - how much more would your business be worth if you invested more in intellectual property (IP) identification and registration?
When a business strategically identifies, maintains and secures its intellectual property rights then this can obviously have a huge impact on the business in terms of its overall operation, including its ability to appeal to investors, enter into particular business partnership, and in the end increase its value when it comes to sale or company merger.
Large businesses who have mega-brands like Google and Pepsi are often quoted when it comes to their brand value as out-valuing their fixed assets hundreds of times, yet it is easy to forget how these companies also became so big.
We live in an information world now. Information companies like Google can be valued at a few billion dollars a few years after creation only because information is now so valuable. Information is a tradable asset only when it is protected by intellectual property (IP) laws and other laws. Every business, big or small should take intellectual property seriously. It is one of the best investments literally you can make with a company if the intellectual property (IP) value is capitalized within the company and added to the balance sheet.
It is highly recommended for companies of all sizes to be aware of intellectual property issues and produce direct strategies that will proactively ensure that their intellectual property (IP) will at all times be properly legally protected.
Here are a few areas to help you start focusing on by first identifying the areas that you are creating intellectual property in:
1. Trademarks - these protect parts of your overall brand such as mottoes, pictures, names.
2. Copyrights - these cover the protection of expressive items such as documents, books, pictures, video recordings, audio recordings etc.
3. Trade secrets - these protect proprietary information, internal know-how, systems and operations that are deemed to give you a business competitive edge
4. Patents and industrial designs which protect specific types of ideas and inventions and processes
Considering the above items the first step that you need to do is identifying current IP within your company. You may be amazed by how much you may have. Once all sources of a company's intellectual property have been identified, processes should be put in place that enable the company to easily keep track of all existing IP and all new IP . Then someone needs to be given the responsibility to manage the IP.
Once the key IP has been identified then the next step is to look at what should be registered to protect it legally. This is where a good patent lawyer comes in to play. Good intellectual property (IP) lawyers don't come cheap but seeing the value that is created then it pays off to invest for all your major intellectual property (IP). - 2364
When a business strategically identifies, maintains and secures its intellectual property rights then this can obviously have a huge impact on the business in terms of its overall operation, including its ability to appeal to investors, enter into particular business partnership, and in the end increase its value when it comes to sale or company merger.
Large businesses who have mega-brands like Google and Pepsi are often quoted when it comes to their brand value as out-valuing their fixed assets hundreds of times, yet it is easy to forget how these companies also became so big.
We live in an information world now. Information companies like Google can be valued at a few billion dollars a few years after creation only because information is now so valuable. Information is a tradable asset only when it is protected by intellectual property (IP) laws and other laws. Every business, big or small should take intellectual property seriously. It is one of the best investments literally you can make with a company if the intellectual property (IP) value is capitalized within the company and added to the balance sheet.
It is highly recommended for companies of all sizes to be aware of intellectual property issues and produce direct strategies that will proactively ensure that their intellectual property (IP) will at all times be properly legally protected.
Here are a few areas to help you start focusing on by first identifying the areas that you are creating intellectual property in:
1. Trademarks - these protect parts of your overall brand such as mottoes, pictures, names.
2. Copyrights - these cover the protection of expressive items such as documents, books, pictures, video recordings, audio recordings etc.
3. Trade secrets - these protect proprietary information, internal know-how, systems and operations that are deemed to give you a business competitive edge
4. Patents and industrial designs which protect specific types of ideas and inventions and processes
Considering the above items the first step that you need to do is identifying current IP within your company. You may be amazed by how much you may have. Once all sources of a company's intellectual property have been identified, processes should be put in place that enable the company to easily keep track of all existing IP and all new IP . Then someone needs to be given the responsibility to manage the IP.
Once the key IP has been identified then the next step is to look at what should be registered to protect it legally. This is where a good patent lawyer comes in to play. Good intellectual property (IP) lawyers don't come cheap but seeing the value that is created then it pays off to invest for all your major intellectual property (IP). - 2364
About the Author:
Find out more about Trademark Registration Singapore and discover how does a trademark lawyer and IP protection increase the net worth of your business very fast.
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