Do you think that a service based business doesn\u2019t create intellectual property?\u00a0 Think again, you may be ignoring a valuable asset.\u00a0 Intellectual property can be found in business processes and data collected.\u00a0 Business processes created and used by the business can be copyrighted, and licensed to others.\u00a0 The brand can be trademarked and licensed, or franchised.\u00a0 Don\u2019t overlook the revenue that can be derived from the exploitation of the business intellectual property.<\/p>\n
Every business collects data covering a wide range of information.\u00a0 Information about their products, competitors, customers, market and industry, and more.\u00a0 Some of this data is publicly available, some of it has been collected from consumers, customers or service providers , and although protected by data privacy laws<\/a>, with consent, can be integrated with other data to create a useful tool for your business.\u00a0 This aggregated data also has value not simply for direct use for the business, but can be useful to other businesses.\u00a0 Thus, it can be sold to create a distinct revenue stream.\u00a0 The value will be determined by its collection and usefulness and the method employed to exploit it.<\/p>\n Specific data can be licensed through data-specific license agreements.\u00a0 The business database can be licensed by using a subscription license model, a license for access to specific content and through a distribution or reseller network.<\/p>\n License agreements should be well drafted, clearly set out ownership, use, collection, resale, fee and termination provisions.\u00a0 Business intellectual property, whether or not patentable, can find protection as a trade secret, copyright, or perhaps patent.\u00a0 To ensure your business intellectual property is preserved and protected, retain copies of how, for example, data is collected and stored, or in the case of processes, how the processes were generated.<\/p>\n To find out how we can assist you in identifying, protecting and exploiting your business intellectual property contact us<\/a> now.<\/p>\n SHARE THIS:<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Do you think that a service based business doesn\u2019t create intellectual property?\u00a0 Think again, you may be ignoring a valuable asset.\u00a0 Intellectual property can be found in business processes and data collected.\u00a0 Business processes created and used by the business can be copyrighted, and licensed to others.\u00a0 The brand can be trademarked and licensed, or … Continue reading Extracting Hidden Value from Your Business.<\/span>