Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Startup and emerging companies can take a variety of actions that will move them a long way toward the systematic creation of a profound IP portfolio. Counsel for such firms should encourage and participate in proactive strategies such as the following: 1. Review employment and confidentiality agreements to ensure that they are substantively complete and legally sound. 2. Systematically and thoroughly explore challenges in the relevant industry. Identify the critical challenges that every competitor must solve to be competitive. As in most creative problem-solving techniques, use divergent thinking to list all the challenges between mind and market, and then employ convergent thinking to examine critically the relative importance of each challenge for the company and its industry. 3. For each critical challenge on the short list, step back and ask, “Why is this critical to the company and the industry?” Repeat this step three or four times, each time refining the critical challenge in light of the previous answer. If the challenge is still ranked as critical, put it on the final list. 4. Schedule a half-hour brainstorming session on one of the critical challenges at the end of each week. Do not ask for solutions during these sessions. Instead, plant the seed and request suggestions at the beginning of the following week. 5. Have team members keep engineering notebooks that can be used to document ideas, capture efforts to reduce those ideas to practice, and serve as invaluable knowledge bases that can be mined for IP. 6. When inventions respond to critical challenges, initiate constructive team discussions that emphasize the portfolio-level perspective and assess progress in identifying and protecting profound IP. 7. Consider focusing portfolio building on those inventions that protect future revenue streams. For information on subscribing to the newsletter “Advising Start-Up and Emerging Companies,” please click here.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.