Informal IP is often overlooked in favor of focusing on the formal registrable IP rights, i.e. patents, trademarks and designs; however, informal IP still can and should be protected. Trade secrets, one of the informal IP rights currently gaining the most traction in the market, is a viable alternative to patent applications and merits a robust trade secrets policy to prevent trade secret leakage. Other informal rights, such as critical customer, supplier and partner relationships can enhance the value in your company’s brand and reputation, whereas organizational knowledge and business processes can make your company more valuable in the eyes of prospective investors and buyers and can help your business realize a greater valuation upon exit.
