IP Strategy (IP) – Quiz

IP Strategy (IP) – Quiz

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Question 1 of 3

1. Question
Q1. What is the purpose of an IP strategy?
- a. To maximise the number of IP assets a company owns
- b. To ensure a company has freedom to operate
- c. To maximise the commercial value of the IP assets a company owns
- d. To attract investment
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Question 2 of 3

2. Question
Q2. Does owning IP give the right for the owner to commercially exploit the IP?
- a. Yes, by owning IP a company has the right to commercially exploit it
- b. No, to commercially exploit an IP asset a company needs to legally control the relevant commercial rights but it does not need to own the IP
- c. Yes, even if a company licenses IP it owns to a third party the company will retain the right to commercialise the IP itself
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Question 3 of 3

3. Question
Q3. Are product life cycles and competitor pressure important when formulating an IP strategy?
- a. No, a company should always maximise its IP portfolio of both informal and formal IP assets to protect the commercial value of its products and brand
- b. Product life cycles are relevant but competitor pressure is irrelevant
- c. Competitor pressure is relevant but product life cycle is not.
- d. Yes, is important to understand both the product life cycle and competitor pressure elements related to your business when formulating an IP strategy
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