IP strategy is a company’s plan of activities to protect the IP of the company and for effective use of IP in business. IP strategy is a part of entrepreneur’s business strategy and is targeted to the successful operation of a company.
The aims wished to achieve with the protection and utilization of IP should be determined in the formulation of IP strategy:
- protecting the results of creative work from copying and illegal use, which is also protection of the investements made in the creative work and developments
- IP as a source of revenue: monopolistic market position as a competetive advantage, possible royalties and revenue from the sale of IP
- IP as a surplus value, e.g good design of products
- creation of the company’s identity (trademarks, brand)
- prevention of the infringement of others’ IP rights
- greater credibility and attractiveness of the company in investors and partners involvement.
The creation of IP strategy involves conducting IP audit in order to get an overview of the company’s IP, applied protection measures and the utilization of IP in the company. The TechDevCo Lab provides IP audit service, which in addition to valuation of the current situation gives recommendations for effective protection and management of IP in a company.
Based on the needs of an entrepreneur:
- we consult companies on the choice of an appropriate protection measure depending on the type of IP and it’s importance to the company
- we introduce and explain different IP protection systems
- we introduce the IP databases as important sources of information
- we give advice on IP management in the company.