Identify the company’s intangible assets. Then consider how you should develop and safeguard them in the best possible way, so that they can continue to generate value.
Why prepare a strategy?
When you draw up an intellectual property strategy, you increase awareness and control over the company’s value. The strategy can be used to:
- Develop your business model
- Facilitate good and clear collaboration
- Make the company more attractive to investors
- Market your business to consumers and users
- Scare off competitors
- Accelerate the company’s growth through the identification of opportunities.
Having a carefully considered intellectual property strategy is particularly important in innovative companies where the entire value of the company often consists of ideas which arise out of creativity and innovation.
Reasons to safeguard your intangible assets
A carefully considered strategy for managing your enterprise’s intangible assets can:
- be used to develop the business strategy.
- accelerate the enterprise’s growth through the identification of opportunities and deficiencies.
- make the enterprise more attractive to potential investors and business partners.
- be used for marketing purposes.
- scare off competitors.
Things to remember
- Identify your company’s intangible assets.
- Prioritise the assets with respect to each other.
- Draw up a strategy and method for managing and developing your assets.
- Communicate your assets, both internally and externally, when it pays.
- Use and make the most of your assets.
- Monitor and protect your intangible assets from being copied.
Test your business
Does your business have unutilised assets?
This test will help you identify and convert your intangible assets into valuable resources.