How Do You Identify Your Intellectual Property Assets? Here Are a Few Things to Evaluate;
1. Identify everything about your business that gives you an advantage over your competitors. Ask yourself: “Why do my customers come to me instead of my competitors?” Dissect your business systems, products, services, and communications (e.g. customer and/or supplier relations) and analyze each component and feature to determine whether it contributes to the competitive advantage, and whether there is anything about it that is perceived as “unique,” “better” or “distinctive.”
By “unique,” we mean your competitors don’t have it or provide it. Something is “distinctive” if it differentiates your business from the competition and brings your business to mind. Of course “better” can mean many things. Determine precisely what it is about that component or feature that makes it unique, better or distinctive.
2. Remember that IP Assets include more than just “technology stuff.” Of course IP assets includes technology-related invention, know-how, expertise, data, and information. But it also includes invention, know-how, expertise, etc., relating to business subjects such as management and operations, marketing and sales–the things that give (or can give) your business its identity to the outside world, and those things that can differentiate your business from your competitors.
3. The trademarks and trade dress that symbolize that reputation and goodwill are all part of your IP assets. And don’t forget the written materials and artwork relating to or created for the business — works of authorship and artistic expression. These, too, are part of your IP assets.
4. Anytime you solve a problem, you have created a potential IP asset. If you encounter a problem in connection with your business, is it likely that your competitors will encounter that same problem? If you have found a better solution than your competitors, perhaps the optimum solution to the problem, that solution is also part of your IP assets.
Many legal tools (including trade secrets, utility patents, design patents, copyrights, mask works, and trademark registration) are available to protect IP assets. Once you have identified the specific source of your competitive advantage, develop a strategy to secure exclusive rights by applying those legal tools.
Experienced Sacramento Intellectual Property Attorneys
We are experienced Sacramento Intellectual Property Law Attorneys. We have helped many individuals and companies with their intellectual property law issues including licensing, trademarks, copyrights, ip assets and intellectual property contracts. Our intellectual property law attorneys can help you protect your most important IP assets and give you the great legal advice and strategy needed to get you the results you want. Contact us today to schedule your complimentary attorney consultation by clicking HERE or by calling 916-999-1376. We look forward to helping you with all of your Sacramento intellectual property law needs.
