Every entrepreneur and inventor struggles with the topic of Intellectual Property. Existing businesses too! This is the most concise presentation of this topic I have ever seen. Specifically, it quickly outlines the purposes and some of the differences between patents, trademarks, copyright and other.
I have had the pleasure of connecting with Don High, Chief Innovation Officer for Strategy Innovators, the team that authored this article. He has worked on some super cool tech and works with many leading firms and government agencies – including submission and approval of more than 100 patents. I wonder how many patents exist in the SnoValley? - Tad Haas
Strategy is the way an entity engages or isolates others to seek an outcome. Intellectual Property (IP)—through the rights IP laws afford to enforce exclusivity on protected ideas—provides an instrument to selectively engage or isolate partners, customers, and competitors. For example, Amazon’s one-click patent helped Amazon improve the shopping experience while excluding competitors from an effective way to reduce abandoned shopping carts online.
Trademark IP engages customers psychologically. Patent, copyright, and trade secret IP defines ideas worthy of the trademark. The combination helps customers select solutions emotionally and justify selections and purchases logically.
IP licenses allow partners, customers, and competitors to engage IP holders while respecting exclusivity. Litigation, or the threat thereof, establishes the likelihood IP will be respected.
The power IP affords to engage or isolate others, when combined with the awareness, willingness, ability, knowledge, and experience to exploit that power, determines the return on IP investment.
If you would like help crafting or improving an IP strategy, please contact us through our contact page.
Original article appeared here: https://strategyinnovatorsllc.com/blog/f/intellectual-property-strategy-in-150-words