You are the CEO of a small company that has a retail product with patent rights. A very large department store chain sends one of your company’s products to China and begins buying a knock off from a Chinese manufacturer. When confronted by the company, the buyer tells you: “Your problem is with the Chinese manufacturer, not me, sue them”. How do you protect your rights, against customers or manufacturers who have very deep pockets, without losing all of their business and spending a huge sum of money? Continue reading Case Study On Protecting A Company’s Intellectual Property
Group50 Consulting, formed in 2004 announced today that it has added an Intellectual Property audit to its Company Physical®, a series of cross functional audits that companies should use to complement their financial audits as further validation of the company’s health. This audit is focused on the business wide practices for protecting Intellectual Property.
Most senior executives believe that Intellectual Property protection is a function of patents and trademarks. This is farthest from the truth according to Jim Gitney, Group50’s CEO. “Patents and trademarks are only a part of protecting a company’s IP. Your Intellectual Property is only as good as your willingness to protect it, and after the fact is a very costly proposition. A proactive approach to protecting IP includes the way outsiders are handled, how employees are trained and communicated with and the approach a business takes in its documentation. The more serious a company is about protecting its IP up front, the harder outsiders will think about stealing it. Unfortunately, we live in a world where a cost analysis often dictates whether or not another company will copy the hard work done by others. This topic is often not thought about or given enough credance as highlighted in a recent Group50 Case Study on Protecting a Company’s Intellectual Property Rights. “
Group50 has designed this Intellectual Property audit to be able to quickly check how proactive a company is in its protection efforts. The audit provides a detailed report on how a company can be proactive and continue to protect it competitive position.
About Group50®: Group50 was founded in 2004 with the vision of providing clients with seasoned professionals who have spent their careers in business. The company has developed unique consulting products such as the Company Physical® and various workshops that are focused on helping companies effectively understand their strategic and operating gaps, create roadmaps to fix them and work side by side with them to implement those changes. Group50 provides clients with consultants who have the specific knowledge they require for a project. More information about the company can be found at www.Group50.com or by calling 909-949-9083.