There is never a bad time to evaluate your intellectual property
(IP) strategy. When most people think of IP, they think of issued
patents and registered trademarks. However, IP strategy is not
simply about getting a patent or a trademark, nor is it about
portfolio numbers. It is important to take a wholistic view,
evaluating market positioning and competition, and treating IP as a
strategic business asset.
Up to 80% of a company's valuation can come from its
intangible assets. This is not surprising when one considers the
exclusivity provided by a patent or the price premium provided by a
brand. Since a majority of a company's value can be derived
from IP, every department can be involved in strategy. For example,
sales can assess market competition and collect feature requests
(e.g., potential new inventions). Marketing can highlight
technological and brand advantages. Research and development can
identify new discoveries. Engineering can implement design
