It’s likely that the most valuable assets of your business are intangible assets, your intellectual property (IP). Most knowledge and innovation-based businesses comprise 80% intangible assets such as ideas, solutions, and innovations.
Protecting your most valuable assets – your ideas!
How much do you know about the value of the Intellectual Property that your business creates?
Think about it:
- What new ideas, innovations, and solutions do you currently have or create?
- What is happening with this information after it has been created?
- Where is it stored and how is it being used?
- Are you actually making money out of your IP?
- What is the Return on Investment on your innovations and ideas?
All businesses, especially those that are already successful, need to ensure that their intellectual assets are effectively protected and leveraged so as to maintain their competitive edge in the domestic and international marketplace. The role IP plays in a business depends on the business model, the market in which the business operates, and the type of IP it uses.
Manage your IP portfolio actively
If you are creating Intellectual Property and want to leverage your IP strategically and financially, you need to make IP an integral part of your business strategy, actively managing and protecting it.
Few businesses actively manage these assets, which is partially because of ignorance surrounding the intellectual property they produce. Managing your innovations, ideas, and know-how successfully does not mean that you have to patent or trademark everything, but you do need a plan with some minimum protection mechanisms.
NZ IP Law is important for business
New Zealand companies create an extraordinary amount of ideas and innovations, but managers often don’t recognise the importance of their intellectual property (NZ IP law). IP only tends to get to the top of the agenda when something goes wrong and that can get expensive very quickly.
Business leaders and managers need a better understanding of IP law in order to protect and exploit the IP assets they own or wish to exploit.
It is our mission to assist our clients in effectively driving the growth of their business from their intellectual property assets.
If you want to now more, get in touch with us for a free consultation.