Securing, Managing, and Promoting Corporate Intellectual Property (“IP”) Portfolios

What are corporate IP portfolios?

Corporate IP portfolios consist of various forms of IP, such as patents, trademarks, copyrights, and trade secrets, that a company owns and exploits to maintain a competitive edge. In Florida, businesses must safeguard their IP assets to prevent infringement or misappropriation by competitors.

Need an intellectual property advocate? Schedule your consultation today with a top intellectual property protection attorney.

Which laws and regulations apply to securing, managing, and promoting corporate intellectual property portfolios in Florida?

Florida and federal laws work in conjunction to govern the protection of IP assets. Key statutes include the Florida Uniform Trade Secrets Act (FUTSA), which safeguards trade secrets, and the Florida Trademark Act, which regulates state-level trademark registration.

At the federal level, the Patent Act, Trademark Act (Lanham Act), and Copyright Act provide the primary legal framework for patents, trademarks, and copyrights, respectively. In addition, the Defend Trade Secrets Act (DTSA) also offers federal protection for trade secrets. As a result, companies must navigate these statutes and relevant case law to secure, manage, and promote their IP portfolios effectively.

What are the strategic benefits of securing, managing, and promoting corporate intellectual property portfolios?

Effective navigation of intellectual property law enables the following for businesses:

• Competitive advantage: By securing IP rights, businesses can protect their innovative products, processes, and designs, staying ahead of competitors.
• Revenue generation: Companies can license their IP assets to others, creating additional income streams. Licensing agreements are tailorable to specific business needs, ensuring control over the use and distribution of IP.
• Attracting investment: A strong IP portfolio can make a company more attractive to investors, demonstrating a commitment to innovation and growth. Investors recognize that IP rights provide a competitive edge and potential for increased profitability.
• Brand enhancement: Registering trademarks and protecting copyrights can help businesses build and maintain strong brand identity, leading to increased customer loyalty and market share.
• Legal protection: Enforcing IP rights through litigation, if necessary, can deter potential infringers and ensure that businesses maintain exclusive control over their IP assets. Florida and federal laws, such as the Florida Trademark Act and the Trademark Act (Lanham Act), provide avenues for legal recourse.

When a set of facts is appropriate for legal intervention, there are many paths a claimant may take. We are value-based attorneys at Jimerson Birr, which means we look at each action with our clients from the point of view of costs and benefits while reducing liability. Then, based on our client’s objectives, we chart a path to seek appropriate remedies.

To determine whether your unique situation may necessitate litigation or another form of specialized advocacy, please contact our office to set up your initial consultation.

What steps should counsel take to effectively secure, manage, and promote corporate intellectual property portfolios?

Counsel should consider the following to protect their clients:

• Conduct thorough due diligence: Investigate target companies’ IP assets, including patents, trademarks, copyrights, and trade secrets. Assess each asset’s validity, enforceability, and potential infringement risks.
• Identify and address IP issues in contracts: Counsel should carefully review and negotiate contracts, ensuring they adequately address IP rights and obligations. Standard contracts include licensing agreements, employment contracts, and nondisclosure agreements.
• Implement robust IP management policies: Develop and enforce comprehensive IP policies that cover all aspects of IP protection, including the identification, registration, maintenance, and enforcement of IP rights.
• Establish monitoring systems: Regularly monitor IP asset use to detect and promptly address potential infringement or misappropriation, which may involve tracking competitor activity, conducting periodic IP audits, and monitoring employee compliance with IP policies.
• Educate employees on IP protection: Provide ongoing training on the importance of IP protection, their role in safeguarding company IP, and the potential consequences of noncompliance.
• Maintain open communication with employees: Encourage employees to report potential IP issues or concerns and maintain an environment that supports innovation and correctly handles IP assets.

Please contact our office to set up your initial consultation to see what forms of intellectual property protection may be available for your unique situation.

Frequently Asked Questions

1. What are the different types of intellectual property?

There are four main types of intellectual property: patents, copyrights, trademarks, and trade secrets.

• Patents protect inventions like new products, processes, and manufacturing methods.
• Copyrights protect original works of authorship, such as books, music, movies, and software.
• Trademarks protect words, phrases, symbols, and designs that identify the source of goods or services.
• Trade secrets protect confidential business information, such as customer lists, pricing information, and manufacturing processes.

2. What are the challenges of managing a corporate intellectual property portfolio?

There are several challenges associated with managing a corporate intellectual property portfolio. Some of the challenges include the following:

• Keeping track of the company’s intellectual property assets.
• Ensuring that the company’s intellectual property is appropriately protected.
• Managing the costs of protecting the company’s intellectual property.
• Dealing with intellectual property infringement.

3. How can I promote my corporate intellectual property portfolio?

Once you have secured and managed your intellectual property portfolio, you can promote it publicly through a variety of means, such as:

• Publishing articles or blog posts about your intellectual property.
• Attending trade shows and conferences.
• Giving presentations about your intellectual property.
• Creating a website or blog about your intellectual property.
• Using social media to promote your intellectual property.

Have more questions about how intellectual property protection could impact your business?

Crucially, this overview of securing, managing, and promoting corporate intellectual property portfolios does not begin to cover all the laws implicated by this issue or the factors that may compel the application of such laws. Every case is unique, and the laws can produce different outcomes depending on the individual circumstances.

Jimerson Birr attorneys guide our clients to help make informed decisions while ensuring their rights are respected and protected. Our lawyers are highly trained and experienced in the nuances of the law, so they can accurately interpret statutes and case law and holistically prepare individuals or companies for their legal endeavors. Through this intense personal investment and advocacy, our lawyers will help resolve the issue’s complicated legal problems efficiently and effectively.

Having a Jimerson Birr attorney on your side means securing a team of seasoned, multi-dimensional, cross-functional legal professionals. Whether it is a transaction, an operational issue, a regulatory challenge, or a contested legal predicament that may require court intervention, we remain tireless advocates at every step. Being a value-added law firm means putting the client at the forefront of everything we do. We use our experience to help our clients navigate even the most complex problems and come out the other side triumphant.

If you want to understand your case, the merits of your claim or defense, potential monetary awards, or the amount of exposure you face, you should speak with a qualified Jimerson Birr lawyer. Our experienced team of attorneys is here to help. Call Jimerson Birr at (904) 389-0050 or use the contact form to schedule a consultation.

Here are some blogs written by JB attorneys that provide more information about protecting intellectual property:

• The Lanham Act, its Extraterritorial Reach, and How It Can Be Used to Protect Trademarks from Being Exploited Outside of the United States (jimersonfirm.com)
• Florida Non-Compete Agreements and Protecting Referral Sources and Patient Lists (jimersonfirm.com)
• Non-compete Agreements: Protecting Referral Relationships as Legitimate Business Interests
• The Effect of Remote Work on Non-Compete Agreements