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ARTICLE · 03 OCTOBER 2019

Intellectual property in the boardroom: risks and opportunities

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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The board has an integral role to play in ensuring that the company manages and protects its intangible assets like IP.

AustraliaIntellectual Property
Kate Hay
Kate Hay
Sandy Mak
Sandy Mak
Frances Wheelahan
Frances Wheelahan
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For many companies, intellectual property (IP) only makes an appearance in board papers when expenditure on research and development is being reviewed, or when an allegation of IP infringement hits the risk register.

However, as brand, technology and innovation become ever-more important to companies' financial fortunes, intangible assets like IP are becoming significantly more prominent in boardroom deliberations.

In this context, the board has a vital strategic role to play in relation to IP – one aligned to its fundamental responsibility to ensure the proper structures are in place to maximise the financial success and mitigate the risk of the company it oversees.

To maximise its return on investment in IP, a board should set the following three IP-specific priorities:

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