Here are five steps that can help you develop your own IP strategy:
1. Let your company’s size guide you.
2. Establish guidelines for creating intellectual property.
3. Analyze your competitive advantage and barriers to entry.
4. Analyze third-party interactions.
5. Audit your intellectual property.

Companies of all sizes should focus time and energy on having a strong understanding of the intellectual property process, which can help you save time and money when developing a product or service and obtaining intellectual property protection. By determining your goals and evaluating your IP strategy for future success, you will have a better understanding of the environment your company is entering. A company can spend a lot of time on developing a product or service. An equal amount of time should be spent on developing your IP strategy to ensure the maximum return on your intellectual property investment.