Intellectual property does not provide value in and of itself, but derives value from the rights bestowed on the holder. Patrick Richards explains how to draw as much value from the strategic advantage of preventing competitors from copying or piggybacking on your intellectual property. He emphasizes identifying the objectives of your business, as derived from why your product is distinct from your that of your competitors, and aligning the protection available through intellectual property law with those goals. A business owner seeking protection for intellectual property should understand exactly what rights such protection will grant him/her, and how to use those rights to deprive others of limiting the advantage that those rights provide. Like many decisions facing business owners, the choice of how best to protect intellectual property must be made with the ends, not the means, in mind.
- Summary by FizzLaw Team
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What's the value of Intellectual Property?