Almost all companies have a desire for more directed and strategic decision making about how to protect their intellectual property, especially with respect to patents due to their cost. In other words, companies are trying to decide which IP assets are going to be most important, which can do without protection, and which are going to turn out to be a business or technological dead end. These efforts are a clear result of the recession and current sluggish economic conditions and reflect an opportunity to re-evaluate legal budgets and obtain the most value from an investment in IP protection.
First and foremost, an IP management strategy should involve educating all company personnel. It is important to create an internal culture of awareness of the importance of the company’s IP assets. This should involve everyone down to the front-line employees, including management, research and development staff, engineers, business people, and marketing and sales personnel.