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



 

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