Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Intellectual Property and other Invention topics.
The management of intellectual property, once an arcane activity, can now make or break a company. The speed of innovation, globalization, and controversy within the patent establishment itself might indicate that it's time to place your intellectual properties in the hands of experienced specialists.
Our economy, now heavily dependent on knowledge-based industries such as software, telecommunications, biotechnology, and pharmaceuticals, has shifted the management of intellectual property center-stage. Since many of these knowledge-based industries create products that may be rendered obsolete quicker than products of the past, it's vital for companies to keep vigilant watch over their intellectual properties.