Different Ways to Protect Intellectual Property valuation

Intellectual property covers a wide range of assets from business names and logos to trademark, trade secrets, services and others. A company is bound to suffer losses if these concepts are used without its authorization. Online marketing enables companies to reach a large audience at a low cost. But it also increases the risk of intellectual property infringement. Internet usage benefits almost every company in some way. Therefore, protecting intellectual property is one of the most important things in business today.

The Best Ways to Protect Intellectual Property

It is vital that we protect our Intellectual Property valuation against possible infringements of our rights. The following are some of the most effective ways how to protect intellectual property:

1. Don't File Patents:

Intellectual property is often protected without filing a patent. Filing a patent reveals how to develop a new product. Anyone can create a similar product with workarounds once a recipe is published. A second approach would be to standardize the idea with a standards association so that other people could not create it.

2. Work lean and fast

Technological innovation is always vulnerable to plagiarism. It is partly because of this that innovations evolve so quickly. Constant innovation cycles keep your competitors on their toes. A lean and fast company is needed to accomplish that goal.

3. Separate Teams

We have geographically separated engineering teams, and we ensure that none of these teams has access to the entire product. If these teams worked together, they could undermine the security and sanctity of our products. We need to practice what we preach when it comes to the separation of duties in information security.

4. Make it open-source

Open-sourcing your technology and tapping into a large developer community is one of the best ways to gain a competitive advantage. By doing so, you are able to focus on the added value on top of the technology stack and can execute with speed and agility.

5. Don't co-own property

Keep intellectual property separate from joint ownership at all costs. It could be difficult to protect joint ownership down the road, hurting all parties involved.

6. Exact-match domains

A domain name with an exact match to your trademarks is one of the best ways to protect your intellectual property valuation. Despite a higher cost in the short run, the long-term benefits are unbeatable.

7. Secure Access Control

Protect your ideas, creations and manuscripts with a solution that handles identity and access management. Ideally, intellectual property should be stored on a system using adaptive authentication with risk analysis or at least two-factor authentication. A simple password is no longer enough.

8. Nondisclosure Agreements

Create nondisclosure agreements that are well written by valuation experts. Moreover, make sure that other agreements you use in your business protect your intellectual property as well. That includes employment contracts, licenses, and sales contracts.