IP Portfolio Management in Turbulent Times
Capturing the value of innovation is critical to a company’s success in any environment. But in these uniquely challenging times resulting from the 2019 novel coronavirus (COVID-19) pandemic, thoughtful management of a company’s intellectual property (IP) portfolio can help a business not only survive, but thrive.
The trick is to be pragmatic, strategic and efficient in managing the portfolio. The following are several tips to consider when managing your company’s IP during today’s turbulent times:
- Use patent procedural mechanisms strategically.
- Consider secrecy as an alternative to patent protection.
- Prioritize house brands, single – class trademark applications and key jurisdiction.
- International filing protocols can promote efficiency and defer costs.
- Don’t overlook copyrights or design patents.
- Look for opportunities.
- Thoughtfully manage legal spend.
Source: National Law Forum, LLC