Build an intellectual property strategy: Implement your strategy

5. Implement your strategy

Communicate and carry out your intellectual property strategy within your business

Communicate your intellectual property (IP) strategy to staff and senior management. Your advisors and board members (where applicable) should also understand your IP strategy. This will enable you to better assess the risk profile of your business.

Your IP strategy should be an essential and integrated component of your business. It is not a standalone plan, nor should it be the sole responsibility of the legal or research and development team to manage.

Promote IP awareness

Make sure your employees are aware of their responsibilities in protecting your IP. They should learn the fundamentals of IP protection so they can help you do the following:

  • identify key IP assets
  • plan how, where and when to protect, manage and monetize your IP assets to add value to your business

If you are unsure how to train employees, you can ask an expert to provide a seminar on IP fundamentals for your employees.

Perform risk management

Develop and assess your IP strategy while considering your IP risk profile and management. Protect trade secrets and other IP not yet formally protected. Have employees and business partners sign non-disclosure or confidentiality agreements.

Monitor the market and defend your rights

Your exclusive IP rights are only valuable if you prevent others from infringing on them. If you discover your rights are being violated, IP experts can help you do the following:

  • send cease and desist letters
  • negotiate cross-licensing or settlement agreements
  • enter into litigation, arbitration or mediation proceedings

Resources

CIPO's IP Academy offers free, online learning resources, seminars and training about IP, such as patents, trademarks, industrial designs and copyright.

Access the IP Bank of Speakers to request a speaker from CIPO for your event for Canadian businesses, innovators and entrepreneurs.