The recent economic downturn has forced businesses to take a close look at all aspects of their operations, with a critical eye toward maximizing the return on every dollar spent. Because of the severity of the downturn, even parts of a business that have historically been spared from cost-cutting initiatives, such as legal departments, have not gone unscathed. In the recent past, legal departments have represented an ever-growing expense — an unenviable position when a company’s balance sheet is being scrutinized.
The news is not all grim, however, for those companies that have invested in intellectual property. When handled as part of a comprehensive IP strategy, a company’s IP can further the business and marketing strategies of a corporation as well as generate revenue.
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