Ideas are the lifeblood of any technology-based company, but for the company to succeed, the ideas must be translated and transformed into value. Yet companies based on mediocre ideas are often wildly successful, and companies based on incredible innovations often fail. One difference between success and failure is managing the process that transforms ideas into IP and IP into value.
All of our previous articles have dealt with the intersection of IP and value in one form or another. In-house counsel play a critical role in managing the transformation of ideas into value. All IP is ultimately a legal construct. As the strength of patents, for example, within the courts and the U.S. Patent and Trademark Office (PTO) changes, the value of external threats and internal assets change with them.