1. How can Intellectual Property Strategies help brand in terms of creating a differentiated brand identity?
Munir: Intellectual property rights are proven to be the backbone of businesses. Efficient brand protection strategies help owners to maintain ownership, enhance brand integrity and most importantly establish a useful mechanism to encounter infringement, free riding attempts or any misuse of trademarks.
2. What are your biggest challenges in managing IP of your company?
Munir: Many major challenges exist when managing IP portfolios for companies. For instance, it is a must to have technological tools in place to empower the management of IP portfolios. Today’s technology assists IP teams to keep track of details, such as deadlines, renewal time, and all other required actions to be taken to maintain the protection of IP rights.
A clearance exercise with prior existing rights is a key challenge when selecting and moving to protect IP rights. Enforcement is also a challenge as IP owners must prioritize the assets that need aggressive enforcement and distinguish those when actions are taken. This can also help to plan for adequate budgets and annual spending on protecting IP rights.
3. What intellectual property resources or activities have you used in this Pandemic for your company?
Munir: We noted that our clients focused on licensing and commercializing of IP rights, utilizing and investing in digital and intangible assets. For law firms, we noted that using digital platforms and applications became a great topic and top priority.
4. What in your view is more important; IP Awareness or IP Protection?
Munir: They go hand in hand, but certainly IP protection is a broader goal. It actually serves the purpose of spreading awareness of IP rights and compliance when IP owners initiate such actions.
On the other hand, awareness is a very important preventive step and should help new generations to accept and promote IP rights and innovate in their future career.
5. What factors do you believe will shape the future of Intellectual Property Across the Globe?
1) Investing in technology and online reach to consumers will enhance and add a broader understanding of IP rights.
2) Public awareness will also shape a new era for IP protection and ownership.
3) Amendments of internal laws and regulations in developing countries will add to the protection of IP rights.
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