Intellectual assets are some of the most valuable assets a company owns. Every company has some intellectual asset into which company time, money and resources were invested. As with any valued asset, there should be records made of intellectual assets so the company knows what it owns and how each asset is being used. This is true whether the company intends to file a formal registration of the intellectual asset or not.
The tracking and documenting of new ideas and intellectual assets for a company may be used to build the company’s intrinsic value or to defend the company against frivolous attacks. Over time, a company’s investment in tracking and documenting its intellectual assets, combined with strategic intellectual property planning, increases the company’s success. The increased success is reflected in higher company valuations resulting from the realization of increased business opportunities, greater market share, increased trade value and business credibility, and significantly increased profits from existing and additional value streams. Those value streams may include commercial and technical advantages over competition, exclusive market positions, greater partner value, license and barter value, bookable/bankable value, increased business credibility, and broader company use of existing assets.
Every year, companies are accused of infringing patents, trademarks, and copyrights based on work the company created long before the accuser filed for intellectual property rights. Without proper documentation to prove the original creation, the original creator can lose out in a big way. Making the early investment to identify and create proper documentation, a company can reduce its future frustrations, stress and legal bills caused by frivolous accusations.
Whether a company’s primary purpose for tracking and documenting its intellectual assets is to increase the company’s intrinsic value, to optimize its placement and appearance for acquisition, or to fortify its defensive position, every company needs to identify its intellectual assets and their relationships to potential value streams, to establish company procedures for tracking and maintaining its assets and value streams, and to plan strategically for capturing the full value of the assets.
Full Company IP Analysis and Evaluations for Your Company, Your Competition and Your Potential Acquisitions!
Whether you’re trying to figure out where your company is, tracking the progress of your competition, or evaluating a potential acquisition, Booth Udall Fuller attorneys can obtain and analyze the intellectual property information you need before you act!
Beyond just regularly monitoring your company’s intellectual property and status, we can track and analyze your competitors and their innovative progress through their patent and trademark records.
Know Who’s Got What Before You Act!
Routine IP Audits are important for a company in understanding its bankable assets and ensuring they are protected. Due Diligence reports and analysis of all types of intellectual property can help you to value those assets and enhance their value in your business plans. Progress through innovation requires first knowing where you are and the landscape in which you compete. Only then can you create a plan for moving forward.
Contact Booth Udall Fuller to have us audit your company, your competition or your potential acquisitions.