Managing an intangible asset involves more than just acquiring the formal Intellectual Property Rights (IPRs) through the national Intellectual Property office. Patent or trademark rights are not worth much unless they are adequately exploited.
Moreover, part of a company’s valuable Intellectual Property (IP) may not require formal registration but may call for other measures of protection (e.g. confidentiality agreements). Enterprises willing to extract the full value from their know-how and creativity should take adequate steps to develop an IP strategy for their business and seek to integrate it within their overall business strategy. This implies including IP considerations when drafting business plans and marketing strategies.
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