Most managers defer legal counsel on intellectual property matters because they are unaware of the many management objectives that can be achieved by an organization’s intellectual property, including opening up new markets, enhancing current goods, and creating new revenue streams. An overview of intellectual property strategy for business managers and nonprofit executives is provided in this book by intellectual property expert and Harvard Law School professor John Palfrey. Palfrey makes a case for approaches that go beyond the conventional, extremely constrictive “sword and shield” strategy, contending that adaptability and creativity are crucial components of a successful long-term intellectual property strategy—especially in a time when attitudes toward media are changing.
According to Palfrey, intellectual property should be considered a crucial strategic asset. An intellectual property strategy is necessary since almost every company has a portfolio of intellectual property that is valuable in some way. A brand is a significant type of intellectual property, as any data produced and managed by an entity. Patent, copyright, trademark, and trade secret are the four key types of intellectual property that Palfrey recognizes, and he describes strategic approaches to each of them in a variety of organizational situations based on four fundamental phases.
The most creative businesses use a variety of intellectual property strategies depending on the circumstance and pose challenging, context-specific queries. They accomplish this while preparing themselves for success in the global information economy, resulting in both short- and long-term benefits.
