Why enterprises should develop intellectual property management systems?

Why enterprises should develop intellectual property management systems?

In the context that the fourth revolution industry (4.0) is forming and spreading all over the world, the intellectual property importance and value for enterprises in general and the modern economy, in particular, are undeniable. Most people understand the importance of intellectual property in their enterprises, however, few of them recognize the importance of developing a reasonable investment portfolio management system. 

Why enterprises should develop intellectual property management systems? 

  • Firstly, enterprises’ products, including methods for implementation, design and brand, may change in each period. Therefore, the corresponding intellectual property rights may expire due to the failure to follow or extend at a proper time, or failure to reach the protection scope as expected. 
  • Secondly, intellectual property rights relevant to the products as well as provisions on intellectual property may change, depending on each development period or the continuous development, thus, the right owners should be aware of the change in opportunities and risks.  
  • Thirdly, many intellectual property owners, although hold many strong rights, have not yet fully exploited their potential. Such arises from the ignorance of self-protection techniques and procedures for the performance of these rights. Intellectual property management is the first step for the enterprises to maximumly exploit their owned intellectual property right potentials. 

Intellectual property provisions are regularly updated and revised, intellectual property products of enterprises are also changed and developed over time. Therefore, apart from developing a sufficient and useful intellectual property management system for the management and development of enterprises, the intellectual property portfolio should be continuously evaluated with the experts’ cooperation, ensuring that it shall be changed and developed correspondingly. 

The development and maintenance of the intellectual property management system of enterprises is a complex task, requiring counseling from intellectual property lawyers for the stable operation of the system according to the real situation of the enterprises, contributing and promoting the business growth. 

Disclaimer: This article is for general information only and is not a substitute for legal advice. Apolat Legal is a Vietnamese law firm with experience and capacity to advise on matters related to Intellectual Property Rights. Please click here to learn more about our services and contact our lawyers in Vietnam for advice via email info@apolatlegal.com.

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