Council Post: Defining Your IP Strategy And Why It Matters

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As AI calls human creativity into question, it's increasingly important to understand the value of intellectual property and how an IP strategy can best be defined.

•Accelerate the commercialization of inventions to society

Because all patents are inventive solutions to problems, the start of the IP process is to document the problem you’ve solved and what you imagine the solution to be. You don’t have to create a prototype to create a patent. Prototyping can be helpful, but it doesn’t have to have been perfected over many iterations.

Filing a patent can multiply the value of your current assets and the business overall, further attracting talent. Talented employees may contribute new ideas that further evolve or leverage your IP into something even better.For many investors, IP is an indicator of innovation and helps provide a barrier to competition.

 

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