INTELLECTUAL PROPERTY POLICY

TABLE OF CONTENT

Introduction …………………………………………………………………………………...........………..……3
Scope …………………………………………………………………………………………..….…….……….……3
Objectives …………………………………………………………………………………….........….……………3
Classification ………………………………………………………………................………….…….…………4
Key Stakeholders ………………………………………………………………………….................…………4
Risk Assessment …………………………………………………………………………………...............……4
Ownership ………………………………………………………………………………………………….........…6
Communication …………………………………………………………………………………….........………7
Responsibility of Employees …………………………………………………................................……8
Confidential Agreement …………………………………………………………......................…………8
Guidelines for Documentation …………………………………………..............................…………8
Repository …………………………………………………………………………........…………………………9
Agreement ……………………………………………………………………………..…………………………10
Recommendation for Repository and Agreement …….........................................………11
Security Measures ………………………………………………………………...............…………………12
Policy Violation …………………………………………………………………….................………………12
Policy Review and Update ………………………………………………….......................……………14
Appendix ……………………………………………………………………………..……………………………15
Stakeholder Signoff ……………………………………………………………...................………………15

 

INTRODUCTION
The protection of intellectual property assets allows organizations to maintain a competitive advantage and ensures that the hard work and financial investments are used to the business’s advantage. It prevents unauthorized third parties from benefitting from our efforts. Products or processes can be licensed to third parties in exchange for a fee or royalty later in the future.
Preserving and harnessing these invaluable assets is crucial for any forward-thinking organization. Therefore, this document puts forth a comprehensive strategy for the efficient handling of company intellectual property.
The suggested framework involves a methodical approach to manage and safeguard intellectual property assets. Additionally, it introduces a centralized repository intended to function as the core for organizing, monitoring, and securing all aspects of the organization's intellectual wealth. This repository serves as a pivotal element in strengthening the company's intangible resources and facilitating accessibility for authorized stakeholders.
Through this proposed initiative, the aim is to cultivate a culture of proactive intellectual property management within the organization. This ensures that intellectual assets receive the necessary attention and protection they merit. In doing so, we not only bolster the company's competitive stance but also establish a sturdy foundation for sustained innovation and expansion in an increasingly competitive global arena.

SCOPE
This document describes the procedures involved in the disclosure protection, management, and warehousing of intellectual property (IP) owned by The Concept Group (TCG). This document contains standards or methods for protecting policies, processes or procedures, products, and services (both new and old) alongside other intangible assets such as the company’s emblem, logo, brand voice, etc.
OBJECTIVES
The objectives of this policy include:
•    Protecting IP rights and safeguarding confidential information.
•    Facilitating efficient documentation of all IP assets.
•    Streamlining approval and authorization processes.
•    Enhancing collaboration and knowledge sharing.
•    Mitigating risks of IP infringement and disputes.
CLASSIFICATION
The following are the classes of intellectual property under this policy. Please note this list is not exhaustive and new processes or products/services can be added.
•    Standard Operating Procedures for all departments in TCG.
•    All company and departmental policies.
•    Confidential documents such as company profile, brand guide and registration documents.
•    Documents of all the products and services provided by TCG.
KEY STAKEHOLDERS
The following departments are responsible for creating, managing and safeguarding any intellectual property belonging to TCG.
•    Legal.
•    Learning and Development.
•    System and Network Administration.
RISK ASSESSMENT
There are risks related to intellectual property (IP). Some of these risks are highlighted below alongside their corresponding mitigation plans.

 

 

 

S/N	Risk	Description	Mitigation
1	Employee Turnover and Information Leakage.	When employees leave the company, they may take valuable knowledge, trade secrets, or ideas with them, potentially leading to the unauthorized use of IP.	Include a non-disclosure clause in employee exit forms to remind departing employees of their confidentiality obligations. Implement non-disclosure agreements (NDAs) for all employees (new and old) with access to sensitive IP. Restrict access to critical IP to only those with an official email address. Implement access controls based on individual roles.
2.	Cybersecurity Breaches and Data Theft.	Unauthorized access to our systems could lead to theft or exposure of sensitive intellectual property.	·         Implement robust cybersecurity measures, including firewalls, encryption, etc ·         Conduct regular security audits and penetration testing to identify and address vulnerabilities. ·         Train employees on best practices for data security and the importance of keeping IP confidential.
3.	Inadequate IP Protections.	Failing to secure patents, trademarks, or copyrights can leave our IP vulnerable to infringement.	·         Conduct regular IP audits to ensure all valuable assets are properly protected. ·         Use protection strategies detailed in this document and provided by the legal department. ·         Monitor IP rights and taking legal action against infringements when necessary.
4.	Inadequate Employee Training.	Employees may unintentionally disclose sensitive information or fail to recognize the value of certain IP assets.	·         Provide regular training on the importance of IP protection and the specific policies and procedures in place. ·         Train employees on the guidelines for handling confidential information and reporting any potential breaches.
5.	Infringement by Competitors or Third Parties.	Other companies may infringe on our IP rights, potentially diluting our brand or devaluing our innovations.	·         Monitor the market for potential infringements and take timely legal action if violations are identified. ·         Consider defensive strategies like countersuing or licensing agreements to protect our IP.