Managing creativity in the technological driven marketplace is the path to a flourishing economic advantage over one’s competitors and a necessary prerequisite for mining acquisition, investment or joint venture opportunities. A successful enterprise marketing strategy stems mostly from continuously assessing and managing a corporate intellectual property portfolio. Think of innovation as the creation of a beautiful garden of ideas with their beauty flowering individually and as part of a larger image. To capitalize on those intellectual property rights the company needs to have the legal framework in place and a cross-disciplinary team to protect the confidentiality of its trade secrets, enforce its legal rights thereby preventing others from illegally profiting through infringement and create assignment or licensing opportunities to provide a steady stream of revenues.
The first step to successful intellectual property portfolio management is to review all documentation to make sure that the rights are adequately protected. Doing so entails several legal practice areas. For example, a labor and employment lawyer will look to see that all employment agreements have non-compete and confidential provisions in place and together with an intellectual property lawyer prepare work for hire agreements and invention and disclosure agreements assuring that the company is the owner of the patent, trademark or service mark. The legal right arises from the intellectual property lawyer filing, maintaining and enforcing applications before the United States Patent and Trademark Office as well as working with local counsel on worldwide rights. A corporate generalist attorney will assist in helping monetize those rights through structured finance agreements and conduct due diligence for domestic and cross border deals.