Do you have Effective IP Policy and IP Strategy for your Enterprise? – How effective is it? – Evaluate them on the following criteria:
How do you currently identify, protect, leverage and manage your IP assets?
What plans do you have in place to derive the maximum value from commercializing your IP assets?
Do you have a special marketing strategy? Do you plan to export? If so, have you used or plan to use a regional or international filing or registration system (such as the Patent Cooperation Treaty, the Madrid system or the Hague Agreement) for patent applications and trademark or design registrations?
Have you assessed the potential to commercialize some or all of your IP assets partly or wholly through licensing, franchising and/or selling them?
Have you conducted an independent IP audit periodically? And has valuation been done of your IP assets? Was this done independently?
How far have you considered taxation and incentives issues associated with the commercialization of your IP? There may be taxation-related requisites (such as registering) to the commercialization of IP. The taxation treatment of revenues and expenses resulting from the commercialization of your IP can differ widely from the accounting treatment. There may be government financial assistance measures associated with IP assets and their commercialization.
Do you plan to use your IP assets as security or collateral for a loan, or to create a tradable security in the securities market? What is the possibility of securing future revenue streams linked to a bundle/portfolio of your IP assets?
Do you have a staff education program that covers the management and protection of your IP assets?
About VajraSoft Inc. – VajraSoft Inc. is Intellectual Property (IP) Management Software company, helping customers manage innovations and monetize IP’s. Our award winning products empower businesses and IP law firms to automate the patent filing cost estimation process of creating cost estimation quotes for filing a patent in any country globally. VajraSoft Inc. PatFolio helps customers with Invention Disclosures Management, Drafting Patent Applications, filing, managing patent prosecution life cycle and patent maintenance.
VajraSoft Inc. is Master Class IP Solution provider, and its products won several Cloud awards including – UP Start Awards for Best Industry Application for 2012. CIO Review magazine selected VajraSoft Inc. as 100 Most promising Big Data companies for 2014. Silicon India magazine listed VajraSoft Inc. as Top 100 Technology companies in US for 2013. VajraSoft Inc. is also Finalist of StartmeupHK Venture Program, conducted by the Govt. of Hong Kong and UP Start Cloud Award for Best BI / Analytics Application for 2013.
PatFolio not only automates invention disclosure management but also managing patent portfolio and patent prosecution life cycle. In addition, PatFolio provisions various checklists useful for patent filing. Using these checklists IP Professionals can ensure requisite information needed for preparing patent application is available and ready for filing. These patent application checklists save money, time and reduce / eliminate errors in patent application filing with patent office.