Intellectual Property Strategy

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Most managers often delegate intellectual property issues to legal departments, overlooking how it can help achieve various management goals, such as entering new markets, enhancing products, and creating new revenue streams. In this insightful work, intellectual property expert and Harvard Law School professor John Palfrey provides a concise overview of intellectual property strategy tailored for corporate managers and nonprofit leaders. He advocates for strategies that extend beyond the conventional restrictive "sword and shield" mindset, emphasizing the importance of flexibility and creativity for a sustainable intellectual property strategy in today's evolving media landscape. Palfrey asserts that intellectual property should be viewed as a vital strategic asset class, as nearly every organization possesses a valuable intellectual property portfolio, necessitating a coherent strategy. He highlights key areas of intellectual property—patent, copyright, trademark, and trade secret—and outlines strategic approaches for each within various organizational contexts, structured around four fundamental steps. The most innovative organizations adopt diverse intellectual property strategies based on specific circumstances, posing critical, context-driven questions. This approach enables them to reap both immediate and long-term advantages while positioning themselves for success in the global information economy.