If you look at the books of large companies these days you will see that their intellectual property (IP) adds a massive amount of money to the balance sheet. In fact most companies fixed assets are miniscule in comparison to the brand and IP value. This tells us something very interesting - yes - how much more would your company be worth if you invested more in IP recognition and registration?
When a business strategically identifies, maintains and secures its intellectual property rights then this can obviously have a major affect on the company in terms of its overall operation, including its ability to appeal to investors, enter into particular business partnership, and in the end increase its value when it comes to sale or company merger.
Large businesses who have mega-brands like McDonalds and Pepsi are often quoted when it comes to their brand value as out-valuing their fixed assets hundreds of times, yet it is easy to forget how these businesses also became so huge.
We live in an information world now. Information businesses like Google can be worth a few billion dollars a few years after creation only because information is now so valuable. Information is a tradable asset only when it is protected by intellectual property laws and other laws. Every company, big or small should take intellectual property seriously. It is one of the best investments literally you can make with a company if the IP value is capitalized within the company and added to the balance sheet.
It is highly recommended for businesses of all sizes to be aware of intellectual property (IP) topics and produce particular strategies that will pro-actively ensure that their intellectual property will at all times be properly legally protected.
Here are a few areas to help you start concentrating on by first identifying the areas that you are creating intellectual property (IP) in:
1. Trademarks - these protect parts of your general brand such as catchwords, pictures, names.
2. Copyrights - these cover the protection of expressive items such as documents, books, images, videos, audio recordings etc.
3. Trade secrets - these protect proprietary information, internal know-how, systems and operations that are deemed to give you a business competitive edge
4. Patents and industrial designs which protect specific types of ideas and inventions and processes
Considering the above items the first step that you need to do is identifying existing intellectual property within your company. You may be amazed by how much you may have. Once all sources of a company's intellectual property have been identified, processes should be put in place that enable the company to easily keep track of all existing IP and all new intellectual property (IP) . Then someone needs to be given the responsibility to manage the intellectual property (IP).
Once the key intellectual property (IP) has been identified then the next step is to look at what should be registered to protect it legally. This is where a great patent lawyer comes in to play. Good IP lawyers don't come cheap but considering the value that is created then it pays off to invest for all your major intellectual property.
When a business strategically identifies, maintains and secures its intellectual property rights then this can obviously have a major affect on the company in terms of its overall operation, including its ability to appeal to investors, enter into particular business partnership, and in the end increase its value when it comes to sale or company merger.
Large businesses who have mega-brands like McDonalds and Pepsi are often quoted when it comes to their brand value as out-valuing their fixed assets hundreds of times, yet it is easy to forget how these businesses also became so huge.
We live in an information world now. Information businesses like Google can be worth a few billion dollars a few years after creation only because information is now so valuable. Information is a tradable asset only when it is protected by intellectual property laws and other laws. Every company, big or small should take intellectual property seriously. It is one of the best investments literally you can make with a company if the IP value is capitalized within the company and added to the balance sheet.
It is highly recommended for businesses of all sizes to be aware of intellectual property (IP) topics and produce particular strategies that will pro-actively ensure that their intellectual property will at all times be properly legally protected.
Here are a few areas to help you start concentrating on by first identifying the areas that you are creating intellectual property (IP) in:
1. Trademarks - these protect parts of your general brand such as catchwords, pictures, names.
2. Copyrights - these cover the protection of expressive items such as documents, books, images, videos, audio recordings etc.
3. Trade secrets - these protect proprietary information, internal know-how, systems and operations that are deemed to give you a business competitive edge
4. Patents and industrial designs which protect specific types of ideas and inventions and processes
Considering the above items the first step that you need to do is identifying existing intellectual property within your company. You may be amazed by how much you may have. Once all sources of a company's intellectual property have been identified, processes should be put in place that enable the company to easily keep track of all existing IP and all new intellectual property (IP) . Then someone needs to be given the responsibility to manage the intellectual property (IP).
Once the key intellectual property (IP) has been identified then the next step is to look at what should be registered to protect it legally. This is where a great patent lawyer comes in to play. Good IP lawyers don't come cheap but considering the value that is created then it pays off to invest for all your major intellectual property.
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Discover more about trademark registration Singapore and learn more about the advantages of having an accomplishedpatentlawyers. This article, Up Your Business Value By Leveraging On Intellectual Property (IP) is available for free reprint.
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