IP Resolutions for 2022

IP New Year's Resolutions

by Ryan P. O'Connor

The New Year is a time to look forward, envision new opportunities, and create visionary plans. Your intellectual property (IP) can benefit when you write resolutions targeted to your organization. To help you get started, here are some suggested IP resolutions for the New Year:

1. Make IP management a top priority.

Don’t let IP be an afterthought. Capture the full value of your intellectual assets by developing a strategy, as well as a tactical plan for execution. Strategy without execution won’t help much.

2. Facilitate communication between all relevant parties.

Key decisions should involve inventors, patent agents/attorneys, and business managers.

3. Review your portfolio on a regular basis. 

Which invention disclosures deserve to be patented? Which patents justify the maintenance fees? Which could be sold, licensed, or abandoned? Are trade secrets being kept secret?

4. Pursue licensing opportunities that advance your business.

Consider licensing part of your portfolio. Also, in-license IP assets owned by others if they can help you achieve your business objectives faster or cheaper than developing the IP in-house.

5. Review your competitors’ patents on a regular basis. 

How are others capturing multiple aspects of a technology? Also consider your freedom to operate.

6. Be engaged in the patent-prosecution process. 

In addition to participating in the initial drafting stage, ask your patent practitioner to review responses to Office Actions with you to prevent claim amendments with which you might not agree.

7. Educate your inventors.

Provide education that teaches inventors how to protect IP rights through their work practices. 

8. Remain objective. 

Think through financial justifications before making decisions. Remember that IP is a business tool.

9. Be proactive, not reactive. 

Be specific about what IP you would like to pursue this year. Create your own future.

10. Stop procrastinating! 

Write your plans down and get going. We can help you achieve your new-year IP resolutions.