The Value and Type of Intellectual Property.
The Value and Type of Intellectual Property.
Intellectual property is one of the
valuable assets of the company. Intellectual property is about the business
goal of the company which can gain as many benefits as possible depending on
the value of the Intellectual property. The meaning of the value of
Intellectual property is about how IP of the company can be beneficial in terms
of gaining more profit to the company or not. However, if the company has a
poor strategy, Intellectual property will be useless. Moreover, although
Intellectual property is the main part of the company, the company has poor
market strategy, poor technological strategy, or poor biotechnology strategy,
Intellectual property will not provide success to the company.
For the way of managing Intellectual property, most
companies will often “ drafting, filing, prosecution and maintenance costs
associated”. The company should focus on whether Intellectual property can gain
benefit to the company or not. Nevertheless, companies must check for the
overall budget first and decide how they can use their budget to develop the
better strategy for their Intellectual property. For instance, they can use
their budget to spend on developing their services or their products.
One of the most significant factors that most
companies should consider is about the long term point of view. Many companies
have high quality Intellectual property, but they only focus on the short
terms. In the end, some companies collapse because of not looking for the long
term point of view.
This part will be
about considering all kinds of Intellectual property. There are many types of
Intellectual property which are trademarks, patents, trade secrets, and
copyrights. The first Intellectual property is the Trade mark. Trade Mark is
the symbol or the logo of the company and products. For example, Red Bull, Yum
Yum, or Pepsi. The second one is the patents which is one of the
Intellectual properties such as the product or the process, or the strategy of
the company. The owner of the Intellectual property will have the right to ask
for the patents and others will not be able to create the same product or the
process of the owner of the Intellectual property until the patents are
expired. The third type of the Intellectual property is trade secrets. The
trade secrets is the secret of the company which anyone who is involved with
the company will not allow to provide any secret of the company. Otherwise,
they will be prosecuted. The last type of the Intellectual property is the
copyright which is the right that others cannot copy no matter what method they
will use. If anyone did, they will be prosecuted or maybe they will be
sentenced.
As everyone can see, Intellectual property is extremely
crucial for every company. Hence, every company should establish their policies
of their Intellectual property seriously. Otherwise, other companies might
filch Intellectual properties of the owner company without any guilt.
By Mr.Yossapat
Paramatkitjakan.
Founder / MD / Business Innovation Trainer & Intellectual Property.
IP ASIAN COMPANY
LIMITED.
References
Canadian
Intellectual Property Office. (2009, November 16). Retrieved November 30, 2009
from
www.cipo.ic.gc.ca
Intellectual-property-strategy.
(2020, December 11). Retrieved December 11,2020 from
Intellectual property strategy | IP
assets (marsdd.com)
United
States Patent and Trademark Office. (2009, November 23). Retrieved November 30,
2009 from
http://www.uspto.gov/
World
Intellectual Property Organization. (2009, December 1).
Retrieved
December 1, 2009 from
http://www.wipo.int
