Home » CEO Briefing Newsletter » 3 Things Every CEO Needs to Know About Patents

3 Things Every CEO Needs to Know About Patents

Intellectual property is one of your most important assets, if not your most important asset.  Though you’re aware of this …

Intellectual property is one of your most important assets, if not your most important asset.  Though you’re aware of this already, you may not be taking advantage of or protecting your IP in the way that you should.  This week, Forbes covers Google’s recent $12.5 billion acquisition of Motorola and explains why the move was smart for Google even though Motorola has been losing in the handheld market.Google isn’t after Motorola for its current share of the cell phone market;

Google is after Motorola for its extensive portfolio of 17,000 patents.  That patent portfolio was incentive enough for the internet giant to invest.

So your company may not be looking to make a multi-billion dollar acquisition just for the rights to intellectual property, but it is important for you, as a CEO, to understand the value and the risks of patents.

article in Forbes lists three things that every CEO needs to know about patents:

  1. Align your IP strategy with your business strategy: the two should go hand in hand and you should not invest in patents that won’t further your ultimate business goals
  2. Purchase all of the IP relating to your strategy: make sure you know where your business is headed and get important patents in emerging markets; don’t let your competitors get to them first
  3. Take a look at your internal stock of patents: your company may be holding onto millions of dollars of revenue in patents that you aren’t even using; make sure you take a full inventory of your IP

Read: Mining Patent Gold: What Every CEO Should Know

About Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.