Whatever your business does, your intellectual property (IP) assets hold the key to your business’s competitive edge and position in the market. You likely knew this already, but knowledge is only one step in the process. If you’ve found it difficult to manage, protect, and leverage those assets when doing so, that’s completely understandable! Thankfully, IP strategists exist for exactly these reasons, so you can do what you do best while they work their IP magic.
This article explores six reasons why businesses should work with IP strategists. For personalised advice, contact our team at The Intellectual Property Works today.
What Is an IP Strategist?
It may seem like an IP strategist is kind of like a consultant, but it’s not quite that black and white! An IP strategist is a business’s partner in navigating the world of intellectual property. As such, IP should be considered in the context of each business as a whole, rather than a standalone strategy.
An IP strategist helps businesses to manage all the complexities that come along with IP management and strategy. You can think of an IP strategist as a guide who helps businesses to make the most of their ideas and innovations. By assessing these aspects, they create plans to safeguard these ideas, projects, and inventions, making sure the business uses them effectively. They also look at a company’s future and its innovations, helping them to stay ahead of any possible upcoming market changes.
6 Reasons Why You Should Work With an IP Strategist
An IP strategist provides a sense check on the IP strategy a business is following and recognises where adjustments may be helpful. Even if a business has a patent attorney in place, these are separate roles (more on that here) and an IP strategist can provide the independent advice they may need.
Reasons you should work with an IP strategist include:
1. Expert guidance
An IP strategist is an expert in merging legal and business expertise, helping you to navigate what can be a difficult concept. Patents, trademarks, copyrights, and trade secrets are all different and complex in their own rights, so an IP strategist comes equipped with a deep understanding of these and the rules and regulations around them. With this, they can provide clear directions on how best to protect your ideas and creations.
2. Independent perspective
Looking to test assumptions around IP? An IP strategist will give you their independent perspective with their fresh set of eyes! They can act like a neutral observer in a way, offering an unbiased perspective on the ways you could handle your IP assets. An independent perspective from an IP strategist ensures that your IP decisions are well-rounded, well-informed, and free from internal biases.
3. Experience
‘Been there, done that, got the T-shirt’, said every IP strategist ever! IP strategists are like seasoned explorers with their experience in navigating patents, trademarks, and all that IP encompasses. Thanks to their wealth of knowledge and experience, they have a backpack full of reasons why Strategy A might not work and Strategy B has a better chance, for example. Just like the traveller knows all the best spots to check out in a city you haven’t been to before, your IP strategist has seen it all and can lead you where you need to go.
4. Education
Education, or knowledge transfer if you may, is key. An IP strategist is a teacher in that they can explain complicated concepts in an easy-to-understand manner, educating you on the ins and outs of intellectual property. Learning is a lifelong journey, and it certainly doesn’t end when school does! Even after conquering your A-levels and finishing university, there’s a whole world of business out there, and that includes IP. An IP strategist helps you learn about what they’ve studied so that you can protect your creations and innovations as best as possible.
5. Future-proof business
An IP strategist can offer built-in sound IP processes and prepare you for what may be coming next. They can likely see where you’re headed and what may be around the corner, and then aim to align your IP strategy with these future possibilities. This helps your business stay ahead of the curve so that your ideas and creations stay relevant as the market changes with time.
6. Give confidence to investors
If there’s one thing investors love, it’s confidence that they’ve made a good choice. An IP strategist is a well-respected expert on your business’s ideas and creations and adds weight to the potential your business holds— for you and for them. With the support of a skilled IP strategist, you can confidently inform investors of what your business does and why it would be wise for them to back you.
Looking for an IP Strategist?
Today’s world sees ideas and innovations shape industries. Working with an IP strategist such as us at The Intellectual Property Works can be the game-changer your business needs, helping you to make the most of your intellectual property. With over 25 years of experience and solutions including IP audits, strategies, and management, we’re ready to help propel your business to where you believe it can go.
