Intellectual property (IP) rights (patents, trademarks, copyrights and trade secrets) are valuable corporate assets obtained with the significant investment of time, effort and resources. The costs of maintaining and enforcing IP rights are also significant and continue to escalate every year. Thus, it is important that all decisions involving IP are based on a sound strategy designed to maximize the cost effectiveness of these activities.
Therefore the Endevco IP Asset Management Process involves:
Decisions and recommendations on IP asset management program strategies are made jointly by business, technical and legal personnel: business providing input on how IP rights can enhance and protect the business to which they relate, technical providing the innovative and scientific basis for those rights and legal providing the expertise for procuring, maintaining, exploiting and enforcing IP rights to further the business objectives. Implementation of those strategies is the responsibility of the business leadership working with the assigned legal entity.
IP Reviews are carried out from time to time to ensure that Endevco’s IP assets are being appropriately protected and effectively utilized. These Reviews are conducted on a Strategic Market Segmentation (SMS) basis and include analysis of each technical project that is considered to have the potential to develop significant IP. The business leadership coordinates the IP Reviews, with input from the appropriate Market Segment Manager (MSM) and S&T Director, or their designees. The reviews provide direction on IP issues, based on established guidelines.