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The Importance of Intellectual Property Management and Protection in a Technical Environment

Today’s ever developing world is producing new ideas and technology at an increasingly rapid rate. What may be more impressive than the advancements themselves is society’s acceptance of the changes and new ideas. This approval from the general public has allowed these concepts to become quite beneficial to the owners and developers of the items. By virtue of their worth, these ideas, concepts, technologies and know-how become assets; formally known as intellectual property (IP). Sometimes overlooked in the pursuit for wealth is the protection of the people and records closely related to the item’s creation, maturity, and success. Without protection, individuals and/or information may find its way outside its originally intended circle. Procedures that define how these assets are used need to be implemented, exhibited, and protected. Furthermore, IP assets have become an extremely important issue with respect to the world’s financial markets. This development into financial commodities has only increased the importance of protecting these assets. Understanding that a company has IP assets is only the first step to their security. This paper will provide techniques to identify and classify assets. It will discuss protection measures based on asset and reveal how IP can be taken from companies, both legally and illegally. The result will be an outline that generalizes the concepts of a company’s IP protection system, and ideas that can be used by the decision-makers within a company for proper allocation of protective resources.

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