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Intellectual Property Portfolio Management
Best Intellectual Property (IP) Portfolio Management Agency
Every startup is different, and they require a different approach to IP. At My Startup Lawyer, we are committed to doing things differently for your startup. Our approach to IP portfolio management scales along with your business.
Intellectual Property (IP) Portfolio Management
By working closely with startups and growing companies around the US, we understand that having a portfolio of intellectual property (IP) – whether patents, trademarks, copyrights, trade secrets, or the like – is not just about obtaining a patent or a trademark. Instead, it’s about developing a strategy to use what you have to grow your business, get ahead, or otherwise enhance your market position. Our IP portfolio management services are designed with these objectives in mind.
Why IP Portfolio Management is Crucial
Your IP portfolio will grow as your startup does, with new innovations, and branding and market expansions, fomenting additional IP. Managing this growing portfolio will become a key strategic issue for your startup, ensuring that all of your assets are protected, aligned with your business goals, and maximized.
Effective IP portfolio management can offer numerous benefits, including:
- Increased Competitive Advantage: A well-managed IP portfolio will make it difficult for a competitor to enter your market, allowing you to hold on to a dominant position.
- Valuation: For many startups, IP is an important source of valuation. Investors and acquirers look closely at your intellectual property (IP) when evaluating your business.
- Revenue generation: protecting your IP gives you a strong foundation from which to license your IP, enter into partnerships or enter into other commercial arrangements.
- Risk mitigation: Proactive IP management identifies potential infringement risks so that you have use of your IP in a more predictable environment, which should minimize the prospect of expensive litigation.
Our Approach to IP Portfolio Management
IP Audit and Analysis
The first thing you need to do is to review what you have – which is all your IP. We conduct an IP audit to identify and evaluate your intellectual property assets (patents, trademarks, copyrights, trade secrets, etc) and to gather the administrative records related to your IP.
We assess your investments at the time of the audit, with care taken to determine what is currently in place, looking at what is registered, what must be renewed, and what is outstanding, as well as the breadth and enforceability of those registrations, any gaps, and the avenues for strengthening those weaknesses. This gives us a thorough view of your IP landscape so that we can assist in managing your IP.
Strategic IP Planning
After getting a complete picture of your IP portfolio, we are ready to develop an IP strategy to act as a base for your business plan with the following elements:
- Order of Importance: Not all IP assets that your business owns are equally significant. We help you to identify which IP assets are strategically important, which ones have the potential to become important, and which ones should be treated with less emphasis.
- Filing Strategy: We help you create a filing strategy. This ensures your most valuable innovations and branding elements are protected. This may include acquiring additional patents, trademarks or copyrights, both domestically and internationally.
- IP Expansion: The bigger your startup, the bigger your IP portfolio needs to be. We identify opportunities to extend your IP coverage into other markets, industries or product lines so that your company stays a step ahead of the game.
IP Monitoring and Maintenance
An IP portfolio is not a one-time exercise; it needs to be monitored and maintained to ensure that your rights are enforceable and that you are receiving maximum benefits from your IP assets. Maintain Ongoing Oversight of your IP portfolio.
- Renewals and Deadlines: Every critical deadline for your IP assets (e.g., renewals, maintenance fees, statutory filings) is tracked so that your rights do not lapse.
- Market Monitoring: We monitor the market for infringement, such as your IP being unauthorizedly used, and deal with it before it becomes a litigation issue. It’s much more cost-effective to do that than to litigate.
- Competitor analysis: We monitor your competitors’ IP activities looking for both threats and opportunities as a basis to adjust your IP strategy accordingly.
IP Valuation and Monetization
Knowing the value of your IP assets is crucial for good business, and we regularly carry out IP valuations to provide you with a meaningful figure that reflects the financial worth of your portfolio by analyzing its market potential, enforceability, and competitive position.
Once your IP assets are valued, we explore opportunities for monetization. This may include:
- Licensing Agreements: We negotiate licensing agreements that enable another business to incorporate your IP in exchange for royalties or other compensation.
- Partnerships and Collaborations: We help you realize the full potential of your IP assets by identifying strategic partnerships and collaborations to create new revenue opportunities and expand your market reach.
- Sale of IP assets: In certain situations, there is a significant financial return from identifying and selling IP assets that no longer form the core of your business strategy. We help you navigate that process.
IP Risk Management
Our role is to help you deal with the various risks thrown up by an IP portfolio – infringement claims; border seizures of counterfeit goods; collisions with other IP rights; competition law claims; derivative IP deals; domestic and foreign licensing; insolvency claims; losses of original documents; enforcement in foreign countries; mergers and acquisitions; tax planning; or even relationship breakdowns involve IP issues. We help you mitigate the risks of all of the above.
- Enforcement of IP Rights: We help enforce your intellectual property rights via cease and desist letters, negotiations and litigation (if needed), defending your assets from infringement.
- IP Insurance: We help companies understand the advantages of IP insurance for paying for lawyers’ fees in the case of disputes and/or litigation, thus providing a sense of certainty and peace of mind.
- Dispute Resolution: Should a dispute arise as to any intellectual property, we work closely with you to resolve these issues promptly and cost effectively to minimize the impact on your business activities.
Customized IP Portfolio Management for Startups
Your IP portfolio at your startup is not static but dynamic and vital. We design a customized IP portfolio strategy that protects your intellectual property but also leverages it to accomplish your startup goals.
With our full management services, you can concentrate on creativity and expansion, safe in the knowledge that your IP is well taken care of. We will work towards increasing the value of your IP and protecting your competitive market position.
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Office
14850 Quorum Drive, Suite 210, Dallas, TX 75254
Contact
info@mystartuplawyer.com
Open Hours
Monday-Friday 08:00 AM to 05:00 PM