IP Considerations During COVID-19: IP Housekeeping

As businesses consider how to transition to a "new normal," a thorough review of intellectual property (IP) assets and a protocol for managing those assets should be part of the planning process. For many companies, the future may include more employees working from home, reduced onsite staff, employees practicing social distancing at work and even furloughs and staff reductions. Business partners may close their doors, sell assets or find themselves unable to fulfill contracts. This new environment will present new challenges for IP protection. A company that invests time now to inventory its existing IP assets, assess current measures for protecting them and plan for their future management will be able to respond to IP-related opportunities and challenges more effectively in the future.