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Understanding the value of your IP more generally is a fundamental factor in making decisions around how to manage your portfolio. Patents and trademarks, for example, require regular investment in the form of annuities or fees to maintain your ownership rights. If a particular asset or group of assets aren’t contributing to the value of your company, then you need to decide whether or not to pay the money to maintain your proprietary rights. If you do decide to maintain your IP, perhaps you’ve assessed that the value of those assets lies in your ability to license or sell them. Having a clear framework for these decisions and opportunities can not only save money in paying fees but provide new revenue opportunities.”

In summary, ineffective communication between inventors and attorneys can be a recipe for weak patents and lost inventions. An industry-specific invention disclosure form (IDF) with narrowly tailored sections and precise prompts can organize and focus an inventor’s disclosure, making it easier for the inventor to write and the attorney to understand. Ultimately, such a well-crafted IDF can save time and resources and result in higher quality and quantity of patents from R&D activities.

As your organization comes into a state of full IP alignment, it is crucial to keep a disciplined eye on the broader IP landscape and on your competition’s innovations.

The sad story of Protégé Biomedical, LLC losing valuable trade secrets to a competitor provides a cautionary tale about being meticulous about getting NDAs signed and carefully reviewed to assure that when discussions begin, the parties at the table are the ones who are bound.

An integral part of executing a cohesive IP strategy is defining the daily work of your IP stakeholders. Of particular importance are the decision-making processes around what innovations need protection, and how to effectively capture those innovations as they emerge from your development teams.

The institution of an ongoing IP education curriculum as part of the regular working rhythm of your company is key to protecting your most valuable IP assets.

The establishment of an Innovation Committee is a crucial first step in protecting existing IP assets, and creating a culture of IP awareness across your company.

A vital first step in ensuring your enterprise is positioned for ongoing growth and innovation is to assess the current state of IP alignment throughout your organization.

A helpful guide for applicants to navigate through the most common options in responding to a final office action at the USPTO.

The EverEdge team has assembled an expert panel of IP and business leaders including our founder, Michael Dilworth. Join us on December 8, 2021 to discuss how companies whose valuation is derived heavily from their intangible assets attract far more capital investment over time.