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To secure exclusive rights is a big investment. Thus it is worthwhile to maintain, monitor and defend them to ensure that your own know-how and investments are not exploited by third parties. The real work to leverage your IP rights will start after the planning and registration stages.
Protection is not the only key to a company's success. Success is determined, above all, by how the company can leverage business advantage in the market from the IP rights. IP rights are assets, which can be utilized also by means of licence and cooperation agreements.
Our recommendation to our clients is that they regularly conduct an audit of their IP portfolio to ensure that their product portfolio and sphere of IP protection do not develop in different directions. We recommend that such an audit is conducted e.g. annually. We also help to anticipate future IP costs and to optimize IP rights so that they will serve the business objectives in a smart way also in the future. An efficient portfolio audit and planning makes it possible to give up non-essential IP rights, and therefore avoid unnecessary maintenance costs.
When the field of IP protection is optimal, one can also actively intervene with the IP rights of competitors and with infringement attempts on one's own IP rights. Kolster can conduct some of the Competitor Monitoring for its clients. Monitoring helps in discovering, in time, IP rights being granted to competitors, and enables a timely intervention, for example, by filing an opposition. We also help in estimating the weaknesses and strengths of IP rights. For example, information about possible weaknesses in the IP protection of an opposite party can bring about significant advantages in a possible negotiation situation.
The IP rights registered by a company are not just evidence about the existence of these rights but also important risk management tools to secure business operations. Companies get the best return for their investments in IP rights by monitoring and defending their rights. At the same time, a message is sent to the market about a company to be taken seriously, possessing something that its competitors would like to copy. In case of a potential infringement, it is important to contact an IP expert immediately once the infringement is found to determine whether an infringement has indeed taken place and to decide what would be the best strategy to resolve the issue.
In IP, it is important to keep the course steady. Clear operational instructions bring security and speed to decision making – especially in problem situations. When confronted with challenges related to IP rights, it pays to discuss them with an expert and to resolve them together.
Develop an IP strategy
Carefully planned protection supports a company's business strategy. When you “look before you leap”, you’ll avoid unnecessary costs and IP risks.
Read moreProtect your IP assets
Effective protection is like a jigsaw puzzle, as the various forms of protection complement one another. Take advantage of our expert experience in choosing forms of protection and how to proceed.
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