Convert Your Intangible Assets Into Corporate Crown Jewels
Many businesses have substantial amounts of intangible assets in various forms that comprise a good portion of the business’ value. Today we turn to Attorney Scott Gibson with Law firm of Davis, Miles in Tempe Arizona for guidance on how to do so in a safe and reliable way.
By Scott F. Gibson
You understand that your company’s intangible assets—its ideas, trade secrets, and valuable relationships—constitute its most valuable possessions. But if a disgruntled employee downloaded your company’s intangible assets onto a flash drive before going down the street to work for a competitor, how would you know that he had stolen your intangible assets? And if you knew that someone had pilfered your property, how would you convince a court not only that the pilfering had happened but also that your disgruntled former employee had stolen highly valuable and protection-worthy property?
Your dilemma arises because your assets are intangible and, by definition, difficult to perceive and conceptualize. If you want to protect these valuable assets, you must implement a program that will change your ideas and innovations from ephemeral wisps of air into corporeal manifestations of concrete assets. You must make the intangible seem tangible.
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ABOUT OUR GUEST AUTHOR:
Scott F. Gibson is the chairman of the litigation department at the Tempe, Arizona law firm of Davis Miles McGuire Gardner, PLLC, and an adjunct professor of law at the Sandra Day O’Connor College of Law at Arizona State University. He has been named a Top Lawyer by North Valley Magazine in 2011 and 2012, and was selected as a Top Employment / Labor Law Attorney by AZ Business Magazine in 2013. This article originally was published in the Spring 2012 issue of In-House Defense Quarterly. Learn more about Scott at http://www.davismiles.com/law/lawyers/192/2418/Scott-F-Gibson.html. To receive .pdf copies of this or any of the other articles that Scott has written, please call him at 480-344-0965.