Thank you for Subscribing to Business Management Review Weekly Brief
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
Thank you for Subscribing to Business Management Review Weekly Brief
By
Business Management Review | Sunday, February 13, 2022
A 2016 U.S. Department of Commerce study revealed that industries that extensively use patent, trademark, and copyright protections supported about 30% of all U.S. jobs. Also, IP-intensive industries increased their contribution to the U.S. GDP from 34.8% in 2010 to 38.2% in 2014.
Fremont, CA: Technology has to become an indispensable aspect of every business. How business is carried out in the 21st century is significantly different from how it was before. Companies are waiting to leverage the latest technology to improve their business activities and efficiency.
The new wave of technology has followed the need to dedicate resources to identifying where Intellectual Property (IP) can suit a company's business plans. While many companies have some impalpable assets, the learning curve for receiving and managing various forms of IP is not too lenient for new firms. IP has become more valuable for individual businesses and the economy.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
A 2016 U.S. Department of Commerce study revealed that industries that extensively use patent, trademark, and copyright protections supported about 30% of all U.S. jobs. Also, IP-intensive industries increased their contribution to the U.S. GDP from 34.8% in 2010 to 38.2% in 2014.
The World Intellectual Property Report 2017 detected that almost one-third of the globally produced product value, counted at USD 5.9 trillion in 2014, was traceable to sources of intangible capital such as branding, design, or technology.
IP management software solutions that can fulfill the needs of a business and scale its IP portfolio can add enormous value to the company. The right software solution will give excellent docketing tools, including due date reminders and shortcuts to related IP assets.
It will allow IP managers to communicate easily over vast geographical distances while keeping the data on IP assets safe and secure from malevolent actors. The global nature of IP will also allow executives and managers alike to understand quickly any nuanced differences in a country's IP laws.
Following are some of the top features of a sound IP management system.
Regular IP audits
Investigating a company's elusive assets over all formats of IP at regular intervals will eliminate the waste of total assets and processes.
Team education
Company officials and employees must be trained on proper IP safety techniques to reduce risks arising from improperly presented assets.
Regulatory compliance
Every country has rules on filing for IP protections that must be carefully followed to obtain and maintain IP rights.
More in News