You want to remain profitable in an increasingly global economy. There's pressure to create new opportunities, new revenue streams from existing assets, new innovations. And all for what? Well, to create new products, enhance existing ones, and to explore new markets.

Innovations are valuable assets and must be protected by using the tools of the intellectual property system before you reveal, share, or have it stolen from you. Gain and retain competitive advantage by these 4 ways:

1) Do everything in-house to crease the needed IP in a stand alone mode.

2) Nurture IP in a focused manner. Create a spin-off/startup business.

3) Acquire or merge with another business that has complementary IP.

4) Share and team up with others to share IP assets for mutually beneficial results.

We will be writing more about IP matters with regards to startups, and protecting your IP rights in Korea! Watch this space.