Does Your Business Have an IP Strategy?

Does Your Business Have an IP Strategy?

Does Your Business Have an IP Strategy?

When you start a business, you likely focus on choosing a name, filing paperwork with the state, and setting up operations. One thing that might fall by the wayside is an intellectual property strategy, which can be costly for your enterprise. Speak with an IP attorney as soon as possible about how to maximize your IP protections and investments.

Protecting Your IP

Your IP will vary depending on your specific business, but protections you might need include patents, copyrights, trade secrets, or trademarks. Applying for protections or meeting the requirements for trade secrets are complicated processes, and you likely do not have time to focus on IP protection during your startup phase. Allow a lawyer to navigate the application process and ensure you receive all the protections needed for your inventions, brand, creative works, and more.

Managing Your IP

Once you have protections in place, you cannot simply ignore them. You must monitor whether other parties are infringing on your IP rights, as well as ensure that you are maximizing the revenue from your IP. Having support for intellectual property management can mean a higher return on your investment, and you want someone on your side who can develop, implement, and adapt your long-term IP strategy.

Discuss different strategies with your IP lawyer, including whether you should license your IP or otherwise monetize your inventions or brand. You want a law firm that tailors a strategy to your specific situation to provide maximum benefits from your assets and property.

Speak with Our Montana Intellectual Property Attorneys Today

There is no one-size-fits-all solution for intellectual property strategies, but one thing is clear – without a solid strategy, you are leaving money on the table. Collaborative IP can help you protect and grow your business through IP strategy. Contact us today to speak with a Montana intellectual property attorney.