Intellectual property as a sword
Think of a sword. Developed in the Bronze Age, it has evolved through the centuries, but its purpose has remained the same – to fight for its wielder and win battles on the ground.
Intellectual property too, can be thought of as a sword. Used offensively, intellectual property can be used for a variety of reasons:-
i) To keep the competition at bay
With a strong arsenal of intellectual property rights tucked under your portfolio, challengers will find it intimidating to come up against you and to fight for market share. As such, they will need to assess and identify the specific ground that remains open for them to enter the marketplace.
ii) To battle against infringers
When a product or service takes off and becomes a success story, cheaper knock-offs and imitation products/services immediately arrive on the scene in order to grab a piece of the pie. IP owners must be aware and police their grounds with a keen eye in order to spot these infringers and to halt their activities as soon as possible, so as to not allow the reputation of the product to be tarnished by these cheaper knock offs and imitation products.
iii) As a show of strength and dominance in a particular marketplace and industry.
As your IP in your products and services becomes more well known and there is an attached recognition of the reputation and quality of the goods/services, people will start developing trust in your product and your company. Soon, your name becomes a household name for that marketplace and industry, and people will recognize the strength and dominance your products/services (thus indirectly your IP) has within this marketplace and industry.
Learn more about why IP is important :-