The term “Intellectual Property” (IP) encompasses all assets of a company aside from its real estate, equipment, machinery, inventory, cash investments, and other tangible property. IP is property you cannot touch or hold.
IP is your company’s:
- labor force (and employment agreements)
- trade secrets and proprietary information
- contract and licensing rights
- distributor and franchise rights
- business plans
- customer lists
- pricing methods
- trademarks, copyrights, and patents
Depending on the nature of the business, these intangible assets may account for the lion’s share of the value of a company. This is particularly true of new economy (non-manufacturing) businesses. Most business owners are not even fully aware of the extent or value of their IP inventory, often leaving it dangerously under-protected.
Businesses are built upon a base of ideas. These ideas, key business practices, and developed “know-how”—things known as “intellectual capital”—are as portable as your employees and business documents where this valuable IP information resides.
Unwanted dissemination of IP is a stark reality for many businesses. By its very nature society rewards people willing to move and bring with them ideas, “know-how,” experiences, and sometimes critical, proprietary information from the businesses they leave.
There are effective means available to protect your IP. Businesses are usually pleasantly surprised by the reasonableness of both time and cost needed to protect their valuable IP. Protection significantly reduces the likelihood that you would become involved in expensive litigation trying to protect your IP later.
Danna McKitrick’s IP Team negotiates and amends licensing agreements; resolves inventor/owner/reseller disputes; and proactively protects patents, trade secrets, and other intangible assets. We’ve successfully litigated numerous disputes concerning IP rights, dissemination of intellectual capital, and violation of licensing and other technology transfer agreements.
Let Danna McKitrick’s IP Team protect your Intellectual Property—it comprises a large part of the value of your business and is often the foundation of your ability to compete in the marketplace.
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