The best way to make sure that you are handling the tasks you need to is to come up with a plan or strategy. Relying on your memory or some hastily scribbled notes that might not make sense the next day isn’t the best way to methodically run a business or any enterprise. And given the amount of things you have to do, a haphazard approach to your work is bound to lead to things being forgotten.
That considered approach is equally important when considering your business’ intellectual property (IP). As we say time and time again, every business has IP, whether you think you do or not; it isn’t something restricted to inventors and their patents. But most businesses fail to heed that advice, and as a result put their company’s future at stake as a result by not protecting it.
People have a natural inclination to avoid difficult and confusing tasks, and IP protection is no exception. Most entrepreneurs don’t have much knowledge of IP or where to start if they wanted to get protection on it. But taking the time to understand the subject and then crafting an IP strategy is an important chore that will pay long-term dividends.
One way to assure a coherent and comprehensive IP strategy is to put an individual in charge of the process. While they don’t necessarily need to be an IP expert, they do need to have a working knowledge of the topic and an understanding of its importance. An IP strategy is an important part of your business, so even if you’re delegating its formation to someone else, you should be sure that you review and approve it. And in order for your strategy to work, you need to ensure that the person in charge of it has the resources and authority to take actions and make decisions as necessary.
Another important part of an IP strategy is making sure that your team adheres to it. Any measure is only as good as its compliance, and if you want to protect your IP, it has to be a team effort. For a start, that might mean a non-disclosure agreement (NDA) that prevents them from saying too much about their work on any of your projects, especially if they leave your employment. It also extends to ownership of work created for you. Many startup employees have side ventures, or are working for you in conjunction with a day job. Having a written agreement that stipulates work created for you belongs to your company and no one else can help avoid issues later.
Perhaps most importantly, you want everyone at your business to understand and identify your company’s intellectual property all the time. Many IP strategies involve a periodic review of the company’s IP assets, which provides a great opportunity to address any new creations. Your company is always trying to grow and innovate, so why not make sure that you are taking full advantage of your innovation to move your business forward? Having a well-crafted and comprehensive IP strategy will allow you to harness the entirety of your creations to great success.
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