Intellectual property as a foundation for funding

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Putting in place a sound strategy for protecting and maximizing a company's intellectual property can boost its future value, say Steven Meltzer, Michelle Marks, and James McCormick.

This article suggests ten basic steps that you can take to build a solid IP foundation that will help attract funding from investors

Step 1: Identify your core technologies
Step 2: Audit your technology, understand your rights
Step 3: Gauge your chances of IP protection
Step 4: Get employees to assign inventions to the company
Step 5: Implement non-competition and confidentiality agreements
Step 6: Establish procedures to protect your IP rights
Step 7: Use patent applications offensively and defensively
Step 8: Focus on the scope of your claims
Step 9: Keep informed of your competitors' rights
Step 10: Seek low-cost revenue opportunities

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