The Proactive Approach to Intellectual Property

Abstract

In-house counsel play a crucial role when developing and managing a company’s intellectual property portfolio. For example, through leading in the development and management of an effective and robust intellectual property portfolio, one that adds value to the organization, internal counsel will be inextricably involved in: • Consideration and development of the company’s business and innovative strategy • Developing a complementary intellectual property strategy, aligned with the company’s business and innovation goals and direction • Developing and effectively managing a patent portfolio in alignment with the company’s patent strategy • Enforcing a patent portfolio to ensure the company is obtaining added value from the portfolio Proactively developing a robust intellectual property program and strategy improves a company’s profitability, and also provide opportunities to stay current in the market and with market movement. The more a company actively creates and protects its patents, trademarks and other intellectual property, the better prepared it is to understand its market value, protect itself from a competitor and defend itself if a competitor threatens infringement. Keeping up with your intellectual property portfolio, and possible infringement by others, is imperative for any company, even an old-school manufacturing enterprise.