Calling all entrepreneurs, business owners, and creatives: If you want a chance for a thorough and holistic review of your intellectual property portfolio, now might be the best time to schedule it. Like many businesses, lawyers often see a downturn during the holidays—leaving our calendars wide open to work with your team and give your IP the time and attention it deserves.
Now is the Perfect Time For an Intellectual Property Portfolio Review
Calling all entrepreneurs, business owners, and creatives: If you want a chance for a thorough and holistic review of your intellectual property portfolio, now might be the best time to schedule it.
Catherine Cavella, ESQ.
Calling all entrepreneurs, business owners, and creatives: If you want a chance for a thorough and holistic review of your intellectual property portfolio, now might be the best time to schedule it. Like many businesses, lawyers often see a downturn during the holidays—leaving our calendars wide open to work with your team and give your IP the time and attention it deserves.
From now until mid-January, our team is working with savvy businesses who aren’t taking their foot off the gas as we head into 2025. This is the perfect opportunity to get a leg up on your competitors by doing today what they will be doing in a few months. Instead of putting it off, let’s talk and find out what IP solutions you need ahead of Q1.
What Does an IP Portfolio Review Include?
An IP portfolio review is an assessment of all of your trademarks (registered and unregistered), patents and inventions, trade secrets, internal and external written content, as well as a comprehensive review to determine if you’re getting enough value out of your IP. A portfolio review is personalized to each client, so some of the following services may not be relevant to your organization (and there are likely critical legal tasks not listed here that we will still work with you on):
- Inventory of current and past IP registrations (trademarks, patents, copyrights) with “next action” dates so you know what to expect in 2025 and beyond
- Patent, trademark, and copyright analysis (assessing strengths and weaknesses)
- Registration renewals – what is up for renewal in 2025?
- Registering new products or brands launched in 2024
- Registering new products or brands planned for 2025
- Reviewing IP implications of current or upcoming marketing or R&D initiatives
- Trade secret review – key processes or information that should be protected as trade secrets, and recommended steps to protect them.
- Documenting any new internal processes related to trade secrets (including training and communication to keep access limited to those who “need to know”)
- Advising on best practices for unregistered assets and assessing the ROI of registering
- Evaluating ROI from registered assets to spot opportunities to maximize it
- Review of current license agreements for compliance and profitability
- Review of nondisclosure language in employee and contractor agreements to ensure your secrets stay secret
Each of these processes will manifest in different ways for different companies and industries. . We will work directly with you to make sure you’re getting the most out of your current registrations and are able to add value through additional registrations, licenses, and more. Best, you will walk away with an IP Inventory in MSExcel so you can keep track of all your intellectual property, with important dates and numbers, all in one place. An up-to-date IP Inventory will be invaluable in due diligence with prospective purchasers, lenders or investors.
It’s Not Now or Never, But Now is Certainly a Great Time
Even if what you need is not on our list, we strongly encourage you to take advantage of this gap in our schedule to knock out your biggest IP questions. Maybe you have a nagging intellectual property question that you’ve been wanting to answer. Maybe you are looking to determine the best way to license your trademarks to increase revenue and brand awareness in 2025.
Think of it this way: Would you call your accountant with accounting questions in the height of tax season? That’s not the best time to use their services because they’ll be backed up for weeks or months on end. Whatever your goal is, let’s tackle it now before we hit the rush of the New Year (January and February are among the busiest months of the year for us). Contact IP Works Law now to POWER YOUR IDEAS® and get ahead of the competition in the New Year!
Catherine Cavella
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