Business formation variables: getting those IP ducks in a row

On Behalf of | Sep 5, 2017 | Business Litigation |

An industry commentator notes in an intellectual property-themed article relevant to business startups that many entrepreneurs materially neglect paying timely attention to a critically important matter when they begin their enterprises.

And here is an additional thing, notes IP specialist Tom Kulik: That inattention is not confined to novice business actors with no real understanding or appreciation for the fundamental value of intellectual property; rather, even seasoned technology pros make a glaring error regarding IP as their companies enter the marketplace and seek to prosper.

That mistake is this: “the failure to develop (or execute on) a well-thought intellectual property plan.”

It seems hard to imagine that proven IP pros would be found wanting when it comes to identifying and taking steps to protect their most valued intellectual capital, but Kulik says that startup principals frequently come up short when it comes to their performance in this important business matter.

Why would that be?

One reason, contends Kulik, is that IP concerns can simply get lost in the shuffle at the formation and frenetic get-to-market stage. Kulik cites a common “shotgun” approach that fails to dispassionately account for all IP and carefully consider optimal ways to utilize and safeguard it from infringement.

Tunnel vision is another common shortcoming for business managers, who can easily “hyper-focus on one type of IP without looking at how all the rights work together.”

And then there is the tardiness factor, with some companies sadly being nonchalant about IP protection until they confront lost rights, litigation disputes, angered investors and other adverse consequences reaped by failure to pay attention.

It doesn’t have to be that way, says Kulik. In fact, IP strategies and protections can be safely promoted through a very simple expedient, namely, proactive action taken by company managers to timely get proven IP legal counsel on board.

Kulik calls that step “not only simple, but remarkably cost-effective.” The studied and comprehensive input of a seasoned IP legal team can help to fully identify and value intellectual property assets and protect them through carefully drafted legal documents.

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