An average startup with financial constraints will not prioritize IP protection in the belief that its resources are better spent elsewhere on more concrete and tangible goals such as sales, product development, and expansion. But just because a lot of IP is intangible does not mean its value is any less important. If anything, the present economy values it more. A good IP strategy for startups goes a long way towards longevity and success in the marketplace
Technology companies acquired for millions of dollars are made up predominantly of intellectual property. But if a substantially increased valuation (provided by IP) is not incentive enough to invest the amount of time and money necessary, then prepare to be pleased. For hereinafter lies an easy- to-follow, 10-step guide that will ensure you leverage the absolute most out of your IP without pulling your hair out. By following these 10 intellectual property management best practices you will be on the road to managing a more robust business.
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