Intellectual Property Law Essay Example | Topics and Well Written Essays - 2000 words

Intellectual Property Law - Essay ExampleIn todays marketplace, IP is not an afterthought, but an issue at the anxiety and the board level, since it has shareholder value consequences. The critical value of high quality IP strategies cannot be overlooked, since it has the capability of fostering innovation and giving an organization a competitive edge and advantage. Licensing of IP, at a time when companies are considering other technological and commercial models, as is the case in the energy sector where close companies are considering climate-friendly technologies, can help protect a business from unnecessary lawsuits and legal battles, and provide an important source of revenue. This paper offers Greentech Ltd, a low ampere-second technology, energy firm, advice with regard to the management of its Intellectual Property portfolio, and proposes an a high quality IP scheme the firm can rely on in the management of any future innovations, especially in the area of Low Carbon Tec hnology. The proposed IP strategy is aimed at enabling Greentech Ltd to maximize its Research sectionalisation innovative outputs. Additionally, the strategy is targeted at enabling the acquisition of innovative ideas and research outputs of persons who are not employed by Greentech Ltd, and facilitation of entry of such ideas and other untested ideas into the market at a faster rate. The paper is divided into three parts Part I offers a brief background of Greentech Ltd current IP holdings and status, Part II outlines recommendations with regard to how Greentech should manage its current Intellectual Property Portfolio, while Part III describes a high quality IP strategy that Greentech will rely on in the management of any future innovations, especially in the area of Low Carbon Technology. Part One land and Introduction Background Greentech Ltd at present has various Intellectual Property holdings it has, over the years authorize various technologies, specifically, it holds 20 licenses, from other parties as a way of enhancing its research projects. The company continues to pay, as is contained in the licensing contracts, royalties for all the 20 licenses however, some of those IP holdings are no longer needed. Greentech Ltd has in the past has licensed certain technologies to other firms without proper initial exploration and research of the market to ascertain how to strike a better deal for the firm. The company, as part of its culture, has eer endeavoured to ensure that all its research outputs are patented, and that those patents are sustained. This it has done even in cases where some patents have failed to yield substantial returns. Currently, Greentech Ltd holds 10 patents, all of which were allow between the year 2000 and 2011. The firm has recently developed a new and a potential market-leading technology, that is patentable however, given the estimated cost, ?10 million, of further development, the firm is unable to depot further development of the technology. The firm has very poorly drafted employment contracts, which is not strict on confidentiality issues as a result the employees who leave are not in any way deterred from taking confidential information with them. Additionally, Greentech Ltd has failed, in some cases, to use non-disclosure agreements, or in some cases, has used them in a