Intellectual Property Theft
Safeguarding value. Reducing risk.
Intellectual property is like hard currency in many industries. Protecting it is critical, particularly in China where intellectual property abuses are rife. Yet many companies lack a clear understanding of exactly what their intellectual property is - and more to the point, what it’s worth.
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First things
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Essential capabilities Managing the threat of intellectual property loss requires a 360 - degree approach by a team with competencies in several specialised areas. Between your in-house resources and your outside advisors, make sure you have each of these capabilities covered:
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Intellectual property is like real property - just harder to track
Intellectual property is an intangible product that has commercial value. The value of intellectual property is the amount of money someone would spend to create what he could steal from you instead. In some industries, that value is measured in billions of dollars.
Examples of intellectual property include:
- customer lists;
- industrial designs;
- permits, mineral rights, licenses;
- environmental studies;
- agreements and contracts;
- patents, know-how, trade secrets;
- trademarks and brands;
- business processes; and
- product pricing models.
Many companies focus only on the threat of their own intellectual property being stolen. But that cuts both ways. For example, sometimes companies accidentally find themselves in possession of intellectual property that belongs to others - knowledge and trade secrets of competitors that come into your business with new personnel. When you’re thinking about risks related to intellectual property, don’t overlook your exposure because of this kind of infiltration.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/cn/en/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
