Who Owns Your Intellectual Property?

If you're a technology firm serving the agriculture sector, intellectual property (IP) is one of your most valuable assets. But you can't extract value from IP that you don't actually own.

If you're developing new technology for producers or engaged in breeding to create a new plant variety, chances are you're relying on a number of people – including employees, consultants, advisors and other contractors – to assist you. However, engaging and paying people to create technology for you doesn't necessarily mean you own the IP in that technology.

Alternatively, perhaps you're collaborating with another organization to develop new, or improve upon existing, technology. With multiple parties contributing to this effort, consideration of who will own the IP in technology created as a result of the collaboration, and how that IP may be used or exploited when your collaboration ends, is important.