Last week, Kash Gokli, the head of Harvey Mudd's manufacturing program and I facilitated an executive roundtable discussion with CEO's and senior leaders from around Southern California on the topic of IP. We had an IP guru at the roundtable to talk about IP and answer questions. It was a fascinating discussion. Do you develop new products to grow your business and to serve your market's needs? Do you have proprietary processes? Most likely, we all have valuable intellectual property, and we should protect it. The value of a business often relates back to the value of IP!
As we discussed last week, if you are thinking of selling your business or gaining investment in your business, it is not a topic you can overlook. Certainly navigating this process requires skill, and so you should gain top notch advice for one of your most precious assets. This is one of the reasons why excellent IP attorneys are tough to find — they need a technical degree and experience in addition to a law degree.
One tip to implement this week:
So, what in the world could we do this week that relates to IP? First, if you are an executive, take stock of your IP. Is it protected? Should you put more emphasis on creating IP and protecting IP? Most likely, the answer is yes — assuming you want to grow your business and create a long-term sustainable plan for your business.
If you are not an executive, ask about your company's IP. Learn about what makes your company different. Why do people buy from you? In addition to service, I am sure there is some IP buried in there somewhere. The more you understand what makes your company tick, the more valuable an employee you'll be. And, I have no doubt, the better your career path will become.
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