{"id":9,"date":"2020-08-10T21:12:00","date_gmt":"2020-08-10T20:12:00","guid":{"rendered":"https:\/\/www.mathys-squire.com\/scaleup-quarter\/2020\/08\/05\/the-importance-of-creating-a-formal-ip-strategy-for-your-business\/"},"modified":"2023-06-28T13:03:54","modified_gmt":"2023-06-28T12:03:54","slug":"the-importance-of-creating-a-formal-ip-strategy-for-your-business","status":"publish","type":"post","link":"https:\/\/www.mathys-squire.com\/scaleup-quarter\/the-importance-of-creating-a-formal-ip-strategy-for-your-business\/","title":{"rendered":"The importance of creating a formal IP strategy for your business"},"content":{"rendered":"\n
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The importance of creating a formal IP strategy for your business<\/h1>\n\n\n\n

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10 August
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6 mins<\/p>\n <\/div>\n <\/div>\n<\/div>\n\n\n

In order to safeguard your work, and to work profitably in the future, it is worth considering the importance of creating a formal IP strategy early to prevent loss of investment and time.<\/strong><\/p>\n\n\n\n

Align IP strategy with business strategy<\/h2>\n\n\n\n

80% of a business\u2019 value is in its intangible assets. With this statistic in mind, it makes undeniable sense to base the strategic framework of a company around those assets and other IP issues. Trying to segway an IP strategy into your existing business plan may prove a little less than effective, as trying to protect innovation after you have already begun work could leave you vulnerable to finding out someone else was there before you.<\/p>\n\n\n\n

It should not be assumed that most businesses have arrived at their current status through ruthless planning; it is far more believable that natural, organic growth has got them to where they are. Therefore, when considering IP strategy, it would make the most sense to start with an analysis of the business\u2019 internal organisation to identify any potential assets that may have been overlooked.<\/p>\n\n\n\n

When doing this, it is important to be aware of the different business frameworks you may fall within as they will present different challenges, for example:<\/p>\n\n\n\n