Describe the Concept of IP management. Explain the Importance of intellectual property assets.

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Intellectual Property Management is all about maximizing profitability. For the high tech venture, intellectual property is the lifeblood of the enterprise. Managers should develop a corporate culture which understands the importance of this. Engineering managers should be looking at licensing out that IP which is not commercially critical to the enterprise, thereby generating additional profits for the company from "old" technology. And, they should also be looking at licensing in technology which might tie in to their own. Furthermore, technical managers are well served if they make it a practice to review disclosures (patents and others) frequently in order to augment their knowledge base. A very popular source of very useful information is IBM's monthly Technical Disclosure Bulletin.

The internet's world wide web (WWW), which has evolved immensely since only 1995, has literally opened the doors to information. Intellectual property information is now easy to research. Patent searches, for example, used to be a fairly onerous exercise. Now, with the popularity of the WWW,  it is possible to look up patents and trademarks with ease. It is even possible to, _____ _________ ______ ____ ______ _______ __________ ____ _________ ___ ____.
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