R&D and Intellectual Property for Monetization
High-quality protection of intellectual property (IP) is a crucial factor for companies to succeed in today’s competitive world. IP and intellectual property rights (IPR) such as patents, designs, trade secret rights and copyrights have during recent decades garnered increasing attention, and IP has become an important way to gain a competitive advantage in many industries. This has also led to an increased importance of strategic IP management in organizations.
There are also companies that fail to recognize and appreciate the importance of IP. For instance, when a popular ride hailing company (ABC) acquired a self-driving car startup (PQR) in 2016. In a rush to complete the acquisition, ABC failed to investigate questions about PQR’s IP that cropped up during the due diligence process, dragging the company into a trade secrets row.
Source: Law Asia