Litigation Is Not the Only Way to Manage and Protect an Intangible Asset
It has always been kept in mind that the only way to protect/manage an intangible asset, part of the assets of a company or an individual, was through litigation. That is, to exercise in an offensive manner the exclusive rights that -generally- the law granted to its owner, once said right was recognized through the corresponding act of concession by the State.
The truth is that today we are witnessing a new perspective of protection and management of intangible assets, which does not only translate into their protection and enhancement from their concession or recognition by the State and their defense based on litigation procedures, that is, through purely contentious judicial processes.
Nowadays, the management of intangibles offers multiple ways to combine corporate, associative, innovation, administration, and IP Protection system elements to increase their value and profitability in the market and as an engine to position companies in a world increasingly competitive.
Among them, we can highlight:
1) Formation of strategic alliances between companies:
Companies from different sectors form alliances with each other to develop a new product or service, intervening in the different stages of the production and development chain, from manufacturing to the introduction of the product or service in the market for its acquisition or contracting by consumers. Each company contributes its expertise in a specific area of the production and development chain.
2) Protection by Industrial Secret/protection of know-how:
Especially for those products that are in the early stages of development and that also need to be protected to avoid their disclosure in the market and in front of their competitors, which would bring a real detriment to the owner company.
3) Application of the so-called “core of IP” as a strategy for the extension of the protection of an intangible asset:
Good management of the rights over intangible assets implies fully knowing the scope of protection of each of these rights, as well as the term that the laws grant that protection and the right of exclusivity to their holders.
For this reason, the so-called “IP core” allows in some way to optimize the management of IP rights in general and of its components in particular when a company or person intends not only to protect its assets but also to position them in the market.
Starting with patents and utility models, continuing with so-called copyrights and related rights, and ending with registered trademarks, it is possible not only to publicize a product or service and position them on the market but also to gradually expand the temporal scope of protection of intangible assets.
4) The R+D and innovation formula:
The investment or reinvestment of the company’s profits in the research and development areas is essential to create not only new and/or improved products or services compared to existing ones, but also as a way to promote innovation within a specific area, in order to lead or obtain/conquer/maintain a position in the market, and likewise, to achieve not only higher profits, but also to contribute to social and State progress with the irruption of the results of the company’s R&D work.
5) Market Analysis:
Companies are increasingly investing in market research of the most varied nature – from consumer preferences, marketing-related issues, people’s needs, to the state of products and services of its competitors-, prior to launching a new component/product/service. In this way, they collect information and evaluate the chances of success prior to making any kind of disbursement that could raise some risk that the project will fail.
Although the combinations of factors – individually considered, and in their relationship with others – that contribute to a correct and effective management of intangibles are much greater, the truth is that it is necessary to abandon the traditional form of management/defense of intangible assets from a purely legal point of view and combine it with other areas of science and administration, taking into consideration economic, tax, state, public policy, administration, and research elements, among others.
Multidisciplinary in an increasingly complex market becomes an almost mandatory element for companies that want to see increased not only their structure and profits but also their position and prestige vis-à-vis the consumer and their competitors.
In Moeller IP Advisors there is a wide range of services in connection with IP matters in order to offer your company the best legal assessment regarding managing IP portfolio.
See our areas of expertise through this link: moellerip.com/services