Strategic Alliances and the Management of Intellectual Properties: The Art of the Contract

Patents, trade secrets, copyrights, and trademarks often compose as much as 85% of a corporation's economic value. Because product lifecycles have shortened as technology advances ever more rapidly, businesses frequently look to partnerships, joint-ventures, and other alliances to speed development of intellectual properties. But such arrangements should be entered into carefully with extensive due diligence. Court cases underscore the importance of having valid nondisclosure and non-compete agreements prior to exchanging proprietary information.