Jerry Petersen
Intellectual property needs are not static and the approach to IP portfolio development, management and monetization must change depending on what stage a company is in its lifecycle, according to Keegan Caldwell, global managing partner at global law firm Caldwell.
When a company is in the ideation stage, the focus should be on the documentation of innovations in order to create a paper trail for future patent filings, Caldwell said in an article posted Monday on his firm’s website.
Also relevant to this stage is the implementation of confidentiality measures and the conduct of due diligence in the form of preliminary patent searches and freedom-to-operate assessments.
When a company is in the startup stage, the focus should be on the securing of foundational IP rights through patents, trademarks and copyrights. A company should also work to determine which IPs to protect, how to protect them and where.
In the growth phase, a company should focus on IP portfolio diversification and the fostering of a culture of innovation. A company should also look into possible partnerships and licensing opportunities.
In the maturity phase, a company should work to conduct comprehensive IP audits to determine the strengths, weaknesses and opportunities of one’s portfolio. IP enforcement and litigation become important as well.
Finally, in the initial public offering phase, a company should work to accurately determine the value of its IP portfolio. This will help determine the company’s worth and thereby set an appropriate IPO price.
Caldwell goes on to describe one’s IP portfolio as “the bedrock of your company’s value proposition” and says investment in the development and protection of one’s IP contributes to long-term success.
