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Technology is what often differentiates companies, and the ability to copy or imitate is faster and less costly than innovation and development. As a result, one must understand the various forms of intellectual property protection to assess the perceived value, longevity, and cost effectiveness of their IP protections. As noted in a previous article, a strategic IP management program can generate competitive benefits, market defenses, and even revenue. Protecting intellectual property is therefore integral to corporate operations, and any IP strategy must be evaluated from an economic perspective.