Business plan protecting intellectual property
As the United States increasingly becomes a service economy, the business assets that become central to business are not the inventory, equipment and machinery of old but the products of mental creativity: the concepts, procedures, software, data, trade secrets, inventions, and creative intellectual products "manufactured" by businesses and their employees and contractors. This leads to unique issues facing the average business. Where before it was clear who owned inventory or equipment and only customer lists were considered valuable trade secrets of key interest to the average business, now the average business is concerned about its proprietary software and data base, its formulas, concepts, written work product, downloadable information, ideas, and methodology, and a brand new industry has developed engaged in the creation, support and maintenance of those very items. Another industry has emerged seeking to protect businesses from the piracy of their information by third parties and theft by insiders.
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The simple answer to this question is Yes. In such a competitive and rapidly changing technology market, the safeguarding of product development, source identity and unique concepts along with the retention of a viable advantage should be an important concern for any business, whether it may be a new start up company or a larger well-established company. Many companies already understand the important role that Intellectual Property plays in protecting ideas from third parties that would choose to misappropriate novel concepts instead of spending their own resources on developing independent and new technology models. However, Intellectual Property may also be instrumental in helping your business develop good relationships with business associates, suppliers, customers, and most importantly, investors.
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Are you an expert in the oversight of intangible assets? If you are, you may want to consider starting your intellectual property management business. These types of businesses are involved in the management of a variety of intangible assets such as inventions, music, publications, as well as software. These can also be termed as basic strategies included in a business plan to make your dreams come true. Before you begin your quest to establish an intellectual property management business, there needs to be clarity regarding your specific area of specialization.
Q: I'm a budding entrepreneur, and over the years, I've brainstormed about many different business ideas. What's the first step in getting my concepts rolling? Is it setting up the Web site and launching a direct-mail campaign, forming the company structure or writing a business plan?