Multiple Business Uses of Forms of IP

One of the primary reasons why it’s important to integrate business teams into intellectual property management is that different forms of intellectual property have multiple uses as shown in the “Multiple Business Uses of Forms of IP” figure. The primary forms of intellectual property that most for-profit corporations hold are patents, trademarks, copyrights, know-how, and relationships. Each of these forms of intellectual property has defensive uses, in conflict avoidance and dispute resolution. They also have offense of uses where they can generate revenue in their own right, reduce costs to the Corporation, and allow for strategic positioning of a company. To reiterate, leaving out personnel who have the business insight as to how each form of intellectual property can be used in their area of the business creates either decisions that do not extract full value from the asset for the Corporation, or perhaps worse, personnel are endlessly accounting for and debating the merits of each intellectual property asset. Thus quick, high-quality, and sticky decision processes have to be applied in intellectual property management if it’s to integrate well with business processes.