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What are your intellectual property assets?

From: Canadian Intellectual Property Office

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(Music plays)

The Canadian Intellectual Property Office presents

What are your intellectual property assets?

(We see Cecile Klein getting ready to be interviewed.)

Cecile Klein, Intellectual Property Advisor Atlantic Canada, CIPO

(The interview begins with light music in the background.)

Every business has one form or other of intellectual property, in other words intangible assets, but most of the time they don't even realize that they do.

Intellectual property can be trade secrets, patents, trademarks, copyright, industrial design.

Intellectual property is very important because it is one of the assets that a business has that can be the most valuable one that they have, so taking stock of what they have is essential.

As a business development officer based in Atlantic Canada, my role is to educate organizations, businesses, individuals on the various forms of intellectual property so that they can properly manage and build their IP portfolio. For a business, their intellectual property is similar to having a personal financial portfolio.

For a happy retirement it's important that we manage our finances. For a business it's the same, it's important that they manage their business assets, for each of these assets that are part of your portfolio, you should be keeping copies.

Copies of registration certificates, of filing certificates, of any licensing agreements, and only one or two people should have access to this portfolio.

The key message here is, when someone starts a business, they must look at their IP portfolio. It should grow with the business; it should never be an afterthought. If your intellectual property is an afterthought, then usually it's too late.

(Music plays)

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Many businesses have intellectual property and are not aware of it. This is what Cecile Klein, CIPO Business Development Officer, sees every day in her work. Her role is to educate businesses about the various forms of intellectual property so they can take stock of what they have and benefit from it.

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