Every company strives to differentiate itself from its competition and to stand out in the marketplace.

Innovation is the best way to establish your difference.  Companies can innovate through business strategies, new technologies, product and service offerings, brand identity, trademarks, internal processes and even just in the information created for a web site or for customers.

Even if you do not capitalize on or protect the value of your intangible assets, your company has and creates new intellectual property all the time. Extending the valuable life of your intellectual property and strategically creating a new intellectual property is the secret to the lasting success and increased value of your company.

Intellectual property is necessary for capturing and holding on to market share.

Imagine the difference in value between an exclusive contract with a worldwide distributor versus a non-exclusive contract; a 15-year contract versus a 1-year contract; a premium price versus a commodity price. Because patents, trademarks, copyrights and trade secrets can provide your company with exclusive rights, those rights are more valuable and can place you in the best negotiating position to obtain the most favorable contract terms, highest prices and greatest market shares. If you do not own the exclusive rights to the innovation your customers want, your competitors will move in to offer the same innovation at lower prices and take a portion of your market share. If you do not continue to innovate and freshen up your offerings, someone else will innovate and bump you out of your market.

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Contact Booth Udall Fuller to have us audit your company, your competition or your potential acquisitions.