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.
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:
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:
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.