Intellectual Property (IP) – How to Protect your Business Assets

Intellectual Property (IP) – How to Protect your Business Assets

 

Intellectual Property (IP) touches everything that makes life more enjoyable, easier, safer, and prosperous. Whether its life saving medicines, technology that connects us, or our favourite TV show and song, IP is everywhere and adds value to our life.  

 

IP is an essential part of innovation and growth and for successful businesses intangible assets like IP accounts for 90% of a company’s value* and provides confidence to innovators by giving them a monopoly on their innovation so that they can decide on how best to maximise the opportunities it provides.

 

Every business creates intellectual property assets. Whether it’s their brand, their app/software, the looks of their product, their invention, or the internal processes they use, these are all assets which add value to their business. As with any assets, when managed correctly they can provide opportunities, but there are also risks that need to be identified and mitigated.

 

The key to turning your IP assets into a competitive advantage for your business is understanding their value, using IP Rights to protect them where relevant and incorporating them into a clear IP strategy that is integrated with your business plan.  Doing this at an early stage of your business will provide a strong base and allow you to operate your business with confidence.   

 

This Community Of Practice session will help you to: 

• Identify what IP you have 
• Consider its potential value to your business 
• Understand some risks and opportunities related to these assets 
• Understand what Intellectual Property rights are and how they can protect your IP assets 
• Know where to go for more information and help

Where is it?