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Build an intellectual property strategy

From: Canadian Intellectual Property Office

Do an internal IP audit

List the intellectual property assets you own

Define your relevant intellectual property (IP) assets that can help you achieve your business objectives. Use the following checklist to identify the IP you could exploit.

Intellectual property inventory checklist

Assess and rank your IP assets

When you have identified your IP assets, determine whether you should invest to protect them.

The best team to assess and rank IP is often a business-centric team with at least 3 skill sets:

1. Legal skills

A team with legal skills understands the local and global legal issues to consider and will ensure that you meet the legal requirements to maintain your IP rights.

The team should ask the following questions:

2. Business and technology skills

A team with business and technology skills understands the innovation, idea, product or service. In technology-heavy businesses, having technology skills means prioritizing key technical patents and industrial designs. In brand-heavy businesses, having business skills means prioritizing current and future branding plans such as trademarks and copyrighted material.

The team should ask the following questions:

3. Strategic or competitive market skills

A team with strategic or competitive market skills understands how IP impacts your competitors and market. This team ensures a balance between IP assets, business benefits and market needs.

The team should ask the following:

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