10 Tips for Building a Strong IP Strategy

No IP strategy is complete without legal review.

As leading IP lawyers in Seattle, we offer custom-tailored IP strategies to clients across sectors, so when it’s time to capitalize on their most inventive ideas, nothing’s standing in their way. Contact us to learn more .


To rise above the competition in an increasingly digitized marketplace, an entrepreneur needs more than diligence—they need inspiration. And when they find it, they need to safeguard it as if it were their most valuable asset. Because it is.


No matter how much business norms change or technological advances shape industries, one thing remains the same: The value of a truly great idea. Innovation is the key to disrupting a stagnant marketplace, which is why the smartest business minds go to great lengths to protect their intellectual property.


If this is your first foray into intellectual property protection, don’t worry—you’re not alone. And perhaps more importantly, it’s not too late to benefit from educating yourself on these increasingly prevalent legal protections and their many benefits.


As you consider what a potential IP strategy would look like for your business, consider the 10 tips we’ve outlined in this article. With unique legal insights and insider knowledge, our attorneys have a broad understanding of the most beneficial IP strategies to ensure success in our current business climate.

As a boutique law firm serving Greater Seattle, we understand that meeting the many diverse needs of our clients requires an individualized approach. When you need top-tier, streamlined legal strategies, By Design Law is here for you. Connect with us online to learn more.


But first—who needs a strong IP strategy?

Before we dive into our tips for designing your IP strategy, it’s important to address a question we hear frequently: Who is IP protection for?


In simplest terms, IP protection is necessary for any individual or organization that relies on creativity and innovation to spur growth. This includes owners of startups and small businesses, inventors and creative professionals like musicians, artists and writers.


Building a strong IP strategy is equally paramount to large companies and manufacturers—especially in the pharmaceutical, biotech and technology industries—as well as to research and development firms and institutions.


Ultimately, IP protection is essential to any person or organization that achieves their competitive edge through innovation, no matter how small or large their current operations.


1. Conduct pre-launch research on head off infringement issues.

We get it: When a new idea takes shape, you want to manifest it in reality as quickly as possible. And although there’s definitely something to “striking while the iron’s hot,” make sure you don’t delve too deep in development before conducting thorough research.


Too often, creators invest time, money and energy into fleshing out a new product or service, only to find a very similar rendition already exists. If they succumb to the sunk cost fallacy and double down, they risk running into infringement issues that can be costly to resolve. Doing due diligence in conducting patent and trademark searches, as well as checking existing copyrights, can save you a major headache down the road.


2. Understand the types of IP available to you.

In order to adequately safeguard your most valuable assets, both you and your team need to understand the protections available to you. Educate yourself on patents, trademarks, copyrights and trade secrets and develop a thorough understanding of which ones may prove beneficial to you.


Struggling to grasp the fundamentals? Consult with IP professionals and schedule staff trainings. An IP expert can shed light on the many nuances of
intellectual property law , offering insight into issues like the risks of infringement and the importance of early reporting when IP issues arise.


3. Secure patents as early as possible.

As an exclusive right granted for an invention, a patent won’t be part of every IP strategy, or even most IP strategies. However, if you’ve identified patents as a valuable part of your protection strategy, take note: Patent rights are granted on the basis of who files for the patent first—not who invents something first. That’s why as soon as your invention takes form, it’s time to think about filing.


4. Monitor your trademark to avoid naked licensing.

Trademarks don’t just establish your brand; they symbolize the quality, messaging and reputation that are synonymous with your company. In some ways, your trademark is your company. When you get to the point where you can make royalties simply from licensing it, it’s important to be discriminating in who you license it to and to monitor its use. Failing to enforce quality standards can result in naked licensing, causing the degradation of your brand and, potentially, the loss of your trademark.


5. Use NDAs, internal policies to safeguard your trade secrets.

Not all types of intellectual property need to be or can be registered, such as trade secrets. However, you can still protect them by establishing robust internal policies to ensure confidentiality and by using non-disclosure agreements whenever you can. These measures can help you ensure that your proprietary processes, formulas and other types of confidential information continue to give you the competitive edge.


6. Conduct regular IP audits.

As an entrepreneur, you know that things change quickly. Companies experience explosive growth and the economic landscape shifts continuously. The IP strategy that worked for you 15 months ago may be insufficient to protect you today. That’s why it’s essential to schedule regular IP audits that identify potential gaps in protection and new ways to leverage your IP.


7. Practice continuous monitoring.

IP infringement can cause serious damage to your business, especially when you aren’t aware it’s happening. Make sure to practice continuous monitoring, keeping an on the market for any indication of IP infringement. This includes monitoring for counterfeit products, patent infringements, unauthorized use of trademarks and more.


8. Ensure a global IP strategy for global markets.

Intellectual property laws differ by country. The strategies that protect you in the U.S. may not protect you abroad. If you’re reaching into global markets, make sure you have a global approach to protection. Depending on the nature of your business, you may need to consult intellectual property experts from the countries in which you’re operating.


9. Leverage Your IP for Growth

Your intellectual property can resemble stagnant ownership, or it can be a major leverage point for growth. Consider how your IP could be used strategically to grow your business. This could include licensing agreements, partnerships or even positioning your IP as collateral in business negotiations. Remember: A strong IP strategy isn’t just about protecting your ideas—it’s about using them to your advantage in the marketplace.


10. Partner with a dedicated IP attorney.

As an entrepreneur, creator or innovator, you deal in the immaterial. You take an idea and extrapolate it into reality. You don’t have the time or space to be your own legal advocate, but we do. When you need a legal partner who is passionate about IP protection and understands the many nuances of the field, contact By Design Law .


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