HOW THE SILICON SLOPES CAN PROTECT INNOVATION USING INTELLECTUAL PROPERTY ASSETS.

• Author: Marshall, Ryan

It's not enough to have a good idea. You also have to protect it.

Silicon Valley companies' reputation for innovation and creating wealth and technological development is inspiring. What recipe do Silicon Slopes entrepreneurs need to match that success? It's simple: innovation protected with intellectual property assets and amenities. Two important amenities helped Silicon Valley entrepreneurs achieve their success, those amenities cultivated creative and collaborative problem solving.

SUPPORTIVE INSTITUTIONS

Silicon Valley is home to top-notch universities. Those universities train skilled workers and talented problem solvers. Research professors sit on boards of start-ups, and the universities actively market their own innovations to the local business community.

Some successful entrepreneurs came from those educational environments. Others keenly recognized emerging talent and enlisted the university's talented graduates and professors. An entrepreneur should seek top talent in thought-leaders, creative engineers, scientists, programmers, and professionals whose talents and skills augment their teams with diverse experience.

ENVIRONMENT & CULTURE

Silicon Valley is in California, a golden state replete with beauty and entertainment venues. That geography makes the Bay Area an attractive place for visitors and residents alike. Similarly, Silicon Slopes is nestled among magnificent outdoor venues like Utah's mountains--which are renowned for skiing and snowboarding. Equally important are Utah's national parks and monuments, complete with breathtaking, inspiring vistas for the eager adventurer and passive observer. These outdoor venues combined with the locale's friendly, hospitable reputation attract and retain Utah's workforce while proving inviting to investors, clients, and other potential business contacts.

Once the idea is in place, it's time to protect it. There are four types of intellectual property protection that can help companies do just that.

TRADE SECRETS

Entrepreneurs must protect their innovations with intellectual property, and that can take several forms. One such form is a trade secret. Trade secrets include guarded algorithms, formulas, manufacturing techniques, and customer lists among many others. Trade secrets can last indefinitely so long as they remain confidential. They cannot, however, prevent someone from independently creating the same innovation.

PATENTS

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