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What do you do if your innovative vendor is not taking proper measures to protect intellectual property?

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When partnering with an innovative vendor, the protection of intellectual property (IP) is paramount. IP refers to creations of the mind, such as inventions, literary and artistic works, designs, and symbols. If your vendor isn't taking proper IP protection measures, it can lead to significant financial and reputational damage. Understanding the steps to take in such a scenario is crucial for safeguarding your interests and maintaining a competitive edge in your industry.

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Ankit Gupta

? 3 x Top Community Voice | Procurement | Category | Global & Domestic Sourcing | TCO | D2C | E-commerce | P&L |…

1 Assess Risks

Begin by conducting a thorough risk assessment to understand the potential impact of inadequate IP protection. Evaluate the specific types of IP involved, such as patents, trademarks, or trade secrets, and the risks associated with each. Consider how easily the IP could be compromised or misused by the vendor or third parties. This will help you prioritize your actions and decide how urgently you need to address the situation. It's important to quantify the potential financial loss and damage to your brand's reputation to make informed decisions moving forward.

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Andrea Rojas Ortiz

Service Delivery Manager at Valid
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I would make my vendor aware of the potential risk ahead and approach a legal counsel within my organization and ask him for an advice on how to proceed. Depending on the legal counsel recommendation, I would come back with my vendor and draft a strategy to protect the IP (endorsed by legal team) and proceed with the plan.

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2 Open Dialogue

Next, initiate a candid conversation with your vendor. Express your concerns clearly and provide examples of what you consider inadequate protection. This dialogue should be constructive, aiming to collaborate on improving IP safeguards. Ask about their current IP protection strategies and suggest enhancements if necessary. It's vital to communicate the importance of IP protection not only for your business but for the vendor's long-term relationship with you and other clients.

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3 Review Contracts

Review your contract with the vendor to understand the provisions related to IP protection. Look for clauses that outline the vendor's obligations regarding confidentiality, security measures, and rights in case of a breach. If these clauses are lacking or insufficient, renegotiate the terms to include more robust IP protection measures. It's crucial to have a legally binding agreement that clearly defines the responsibilities and consequences related to IP security.

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4 Enhance Security

Work together with your vendor to enhance their IP protection protocols. This could involve implementing stronger cybersecurity measures, staff training on IP rights and responsibilities, or adopting industry best practices for safeguarding sensitive information. Encourage your vendor to obtain certifications that demonstrate their commitment to IP security. By proactively improving security measures, you reduce the risk of IP theft or misuse.

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5 Monitor Compliance

Once new measures are agreed upon, monitor the vendor's compliance regularly. Set up checkpoints or audits to ensure that they adhere to the agreed-upon IP protection strategies. Continuous monitoring not only helps in catching potential issues early but also reinforces the importance of IP security to your vendor. It's a way to maintain vigilance and show that you are serious about protecting your intellectual assets.

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6 Legal Action

If all else fails and your vendor continues to neglect proper IP protection, consider legal action. Consult with legal experts to understand your options for enforcing IP rights and the potential outcomes of pursuing a lawsuit. Legal action should be the last resort, as it can be costly and time-consuming, but it may be necessary to protect your business interests and deter future negligence.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Ankit Gupta

? 3 x Top Community Voice | Procurement | Category | Global & Domestic Sourcing | TCO | D2C | E-commerce | P&L | Commercials | Margin
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IP protection is critical to fostering innovation and maintaining a competitive advantage. Unprotected IP poses a significant risk, as competitors could potentially copy or reverse-engineer the technology, including lost business opportunities, brand dilution, legal disputes, and financial losses. Proactive IP protection is crucial to safeguarding your innovations and maintaining a competitive advantage. We should suggest vendor to consider more robust IP protection strategies beyond just filing patents. e.g. they could leverage trade secrets, complexity, and first-mover advantage to shield their technology. Also, if a vendor is unwilling to take adequate measures, you need to reconsider the contract to ensure the safeguard of IP.

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What do you do if your innovative vendor is not taking proper measures to protect intellectual property?

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1 Assess Risks

2 Open Dialogue

3 Review Contracts

4 Enhance Security

5 Monitor Compliance

6 Legal Action

7 Here’s what else to consider

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