Why is Intellectual Property so Useful
Most Intellectual Property rights are monopolies or specific rights allowing your exclusive use of technology or branding. Very few other business tools or rights allow you to influence and control particular areas of a market. When trying to influence a market in your favour, IP rights are especially effective if used appropriately.
Apart from market influence, protected IP rights are often an effective platform for forging alliances with other parties. These may be competitors who must now play by your rules. In foreign markets, these may be existing businesses who are in a position to accelerate the infiltration of your technology or product into that market.
The protection of Intellectual Property makes the transfer and controlled use of the IP easier – protection more clearly defines the extent of the licensed IP. Licences, in particular, are often based on protected IP rights and commonly eventuate when other parties have little choice but to licence the IP if they wish to use it. Once IP is in the public domain – usually from failing to protect IP rights – the owner retains very few residual rights likely to attract any prospective licensee or purchaser.
Protection also makes the IP more attractive to those you may approach, as the licensee (or assignee) will also benefit from the control and protection the protected IP rights offer the owner. Increasing value from ongoing reputation and market share also tend to reside in the protected IP further increasing its attractiveness. This translates to increased returns from licences or assignment (transfer of ownership).
Most Intellectual Property rights are monopolies or specific rights allowing your exclusive use of technology or branding. Very few other business tools or rights allow you to influence and control particular areas of a market. When trying to influence a market in your favour, IP rights are especially effective if used appropriately.
Apart from market influence, protected IP rights are often an effective platform for forging alliances with other parties. These may be competitors who must now play by your rules. In foreign markets, these may be existing businesses who are in a position to accelerate the infiltration of your technology or product into that market.
The protection of Intellectual Property makes the transfer and controlled use of the IP easier – protection more clearly defines the extent of the licensed IP. Licences, in particular, are often based on protected IP rights and commonly eventuate when other parties have little choice but to licence the IP if they wish to use it. Once IP is in the public domain – usually from failing to protect IP rights – the owner retains very few residual rights likely to attract any prospective licensee or purchaser.
Protection also makes the IP more attractive to those you may approach, as the licensee (or assignee) will also benefit from the control and protection the protected IP rights offer the owner. Increasing value from ongoing reputation and market share also tend to reside in the protected IP further increasing its attractiveness. This translates to increased returns from licences or assignment (transfer of ownership).
Intellectual Property protection is attractive because:
- you can influence a market;
- you have a monopoly;
- you have laid claim to ownership of the IP rights;
- it facilitates licensing and alliances;
- it can disadvantage competitors;
- it can capture the value of goodwill and reputation;
- if you don’t protect it you probably don’t own anything any longer.
- you can influence a market;
- you have a monopoly;
- you have laid claim to ownership of the IP rights;
- it facilitates licensing and alliances;
- it can disadvantage competitors;
- it can capture the value of goodwill and reputation;
- if you don’t protect it you probably don’t own anything any longer.
