Getting smart about Intellectual Property

Intellectual Property, particularly a patent portfolio, is a critical part of many companies' assets. Yet many of these companies act dumb when it comes to Intellectual Property. Blundering forward without a plan or a manager, the company may throw money at a patent attorney pursuing a patent of little value; it may fool itself into thinking it has protection with a "provisional patent"; it may fail to act in a timely fashion and lose its rights to a valuable patent. This paper highlights some of the mistakes some companies make so that you can avoid falling into the same pitfalls.