Indeed, more then 80 percent of most companies net value consists of intangible assets such as intellectual property. There is an increasing need to protect these assets in order to mitigate risk and avoid litigation. Even the most powerful companies in the world have a need for protection of their IP portfolios. In order to help defend themselves against patent litigation, Google put in a bid of $900 million for the patent portfolio of Nortel Networks which includes over 6,000 patents.
IP concerns range from highbrow to hilarious. It’s time to wake up, do your due diligence, and make sure you have the comprehensive IP protection you need in place when you start a business so you can stay on track creatively without fear of being derailed. Securing IP protection should now be at the top of your “to-do” list – not just an afterthought.