Build an intellectual property strategy: Analyze your findings

3. Analyze your findings

Based on your intellectual property (IP) inventory and the findings from your internal and external IP audits, you are likely to identify some gaps and opportunities in how you can use IP to achieve your business goals.

Imagine you have a good idea but it is not inventive enough to warrant patent protection. Should you keep it a secret? Is there value in branding your solution? You may also have discovered new and competing IP that could interfere with your product development plan. Ask yourself the following questions:

  • Do you have sufficient IP to achieve your business needs?
  • Will you need to acquire new rights?
  • Can you develop IP internally or externally?
  • Can you remove redundant IP or consolidate different IP rights?
  • What are the costs, benefits and business risks?