Intellectual property (IP) risk management is the process of protecting an organization’s non physical assets like innovation, copy rights, product designs, patents, goodwill, trademarks, trade secrets and contract rights among others. In today’s knowledge-based economy, IPs have economic and strategic importance just like tangible assets such as real estate and product inventory. The IPs are however a challenge to protect when compared to fixed assets because of their non-physical nature. In addition many organizations do not have a complete inventory of IPs.
The IP risk management is therefore a process which enables the organization to identify threats to its IP and also develop strategies to mitigate against the risk.There will however be a need to keep an up to date inventory of all IPs if IPs have to be captured by the risk management processes.Our risk specialists team is available to advice you during the process of developing an IP risk management strategy.