Protection Strategy
Companies should make Intellectual Asset (IA) protection a core responsibility for the entire board and management team. Managing cost and risk is part of commercial life so maintain perspective.
A three stage process will help improve the overall understanding of your IA and IP as key assets.
- Assess and record what you already have
- Develop a defensive strategy
- Plan for the future
Assess and record what you own.
Patents may be the backbone of a technology business. A good maintenance system and regular assessment of country coverage is required.
Trademarks whether registered or not are long lasting and powerful. Understand what your protection covers and fails to cover.
Copyright (or Design rights) exists over creative work. Ensure your contracts with staff and suppliers vest ownership with you. In China you can register your copyright but generally this is not necessary as long as you can prove when and what your ownership covers.
Trade secrets are one of the best protections. They encompass all technical or operational information that is economically beneficial.
Knowledge and know how can also have a value such as your data base of customers and commercial intelligence.
Develop a defensive strategy
Conduct an IA audit of internal controls and highlight problems and issues. Set up a need to know approach.
Plan the production process so you don’t outsource the core of your IA . Consider incorporating aspects that are difficult to copy. Consider splitting outsourced production in a way that no one company can steal your know how.
Ensure your human resource policies are IA literate. Let your staff know the importantance of IA. In addition to employment contracts some businesses may need confidentiality agreements or background checks on key employees.
Track data and file transfers. Flash drives and portable devices can take your information in that ‘flash’.
Carefully select you suppliers and develop written agreements on IA. Set up licensing agreements if required.
Plan for The Future
Enhance and expand your IA at every stage, file patent improvements, strengthen your trademarks and keep developing new IA.
Look for ways to make money from your IA. Licensing Joint ventures or sale of IA are ways to consider
Have an understanding of the offensive actions you can take, such as injunctions, dismissal and civil litigation. Mentally have a trigger point where the commercial advantage of action out weighs the cost and aggravation factor.
Have your IP lawyer up to speed and be able to layout your case and evidence concisely to minimise cost and delay.
Honour other companies IP. Buying dodgy DVDs or using competitor digital data from new sales people is encouraging IA theft.
Don’t do anything that isn’t to your commercial advantage.
