Intellectual property is the most critical piece of any emerging technology-based product because it is the underlying value behind an enterprise’s competitive advantage. Creating and defining a best practice strategy for managing that intellectual property should play a key role for the corporate team at the forefront of development—right down to the scraps of paper that draft the beginning stages of the idea. Intellectual property usually cannot be defined or identified by physical parameters, however, for it to be managed, it is necessary to be expressed in some discernible way. For the enterprise, it’s proprietary knowledge.
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