What Is IP Management,
And Do I Need It?
Once you have an IP strategy based on the results of a thorough IP audit, you can’t let it go to waste. IP management provides the next steps with ongoing, regular support to implement your IP strategy in the day-to-day activities of your business. With an aim to transfer knowledge and skills, the ultimate end goal is to guide and allow an employee (or ‘IP champion’) to take over the IP management role.
If you don’t have suitable in-house talent to implement your plan currently, now is the time to begin their training. This involves a period of time with full support, followed by a period of mentoring for the future IP champion and in some cases an ongoing Board Advisor role.
The IP Management Process
IP Management
Backed by years of experience in designing, implementing, and managing effective IP strategies for start-ups and other businesses.
Regular Meetings
And Support
We will schedule regular meetings, which are typically held monthly. This will be reviewed annually.
Advice On Tap
With our ad-hoc advice available on tap, we’re ready to answer your questions without you needing to worry about accruing unpredictable charges.
The cost of IP management will be agreed upon based on the required level of support, and will be reviewed annually. In most cases, full support generally costs approximately £3,000 per month while a mentor role typically costs £750 per month.
What IP Management Includes
IP management is tailored specifically for each business and its ambitions and goals. Overall, it includes the services of an ‘IP manager’, including regular scheduled meetings (typically monthly) and ad-hoc advice ‘on tap’.
Ready to see where an IP champion can take you?
Ongoing IP Management
Ongoing IP management means that the intellectual property assets of your business are continually handled effectively. This includes managing your business’s IP position in line with the agreed strategy and regularly reviewing this to ensure continued alignment with business needs. Ongoing IP management can also include communication with external IP advisers where necessary, as well as IP budgeting, management of portfolios of registered IP rights, board reporting, and so on.
Your IP Management Questions Answered
IP Management involves strategically handling intellectual properties like patents, trademarks, and copyrights to maximize their value, protect innovations, and ensure legal compliance. It is crucial as it safeguards business assets, fosters innovation, and gives a competitive edge in the market.
A professional IP Management Strategist can identify valuable intellectual assets, develop strategies to protect them, handle IP portfolios, assess risks, and optimize the intellectual property’s commercial value, ensuring long-term business sustainability and growth.
Yes, effective IP Management identifies and mitigates IP-related risks like infringement or loss of intellectual property rights, ensuring legal protection and reducing the potential for costly litigation and disputes.
Intellectual property primarily consists of patents, trademarks, copyrights, and trade secrets. Managing them involves protection, enforcement, licensing, and other strategies to optimize their value and utility.
IP Management begins with the identification and assessment of intellectual assets, followed by developing protection strategies, handling registrations, managing IP portfolios, monitoring infringements, and optimizing commercial value through licensing and enforcement.
Absolutely! IP Management is essential for businesses at all stages as it protects innovations, builds brand value, fosters competitive advantage, and can be a crucial factor in business valuation and success.
By safeguarding intellectual assets and fostering an environment conducive to innovation, IP Management encourages the development of new products and services, driving business growth and market differentiation.
IP Management plays a pivotal role in technology transfer by ensuring that intellectual properties are adequately protected, valued, and legally compliant, facilitating smooth and secure exchanges of technology between entities.
To ensure compliance, businesses should engage with experienced IP strategists or legal counsel to navigate complex intellectual property laws, secure necessary protections, manage contractual obligations, and address potential legal issues proactively.
Why Choose The Intellectual Property Works?
The cost of IP management will be agreed upon based on the required level of support, and will be reviewed annually. In most cases, full support generally costs approximately £3,000 per month while a mentor role typically costs £750 per month.
Tailored
IP Support
Backed by years of experience in designing, implementing, and managing effective IP strategies for start-ups and other businesses.
25 Years of
Experience
We will schedule regular meetings, which are typically held monthly. This will be reviewed annually.
Driven by
Innovation
With our ad-hoc advice available on tap, we’re ready to answer your questions without you needing to worry about accruing unpredictable charges.
Step Into Your IP Power
IP can be challenging to navigate on your own-that’s what we’re here to help with! We’ve geared our tailored strategies and management towards helping you understand and make your way through IP with as much knowledge as possible, giving you IP power. Proactively managing your IP assets means you’ll feel peace of mind knowing your assets are protected, and that you have the potential for maximising your revenue.
Start Your IP Management
IP management doesn’t have to be as daunting as it may sound. With expert help from The Intellectual Property Works, you’ll learn your way around IP and feel that confidence in no time. To start your IP management, contact us today.
