What are the intangible assets in your business and how valuable are they? Yumi Millan Managing Director of EverEdge Global Australia explains to Stacey the intellectual property, patents and how you can protect your trade secrets to maximise the value of your business.
Yumi Millan is a specialist in intangible assets. She has extensive international business experience having lived in Japan for over 20 years and worked in Spain and France.
At EverEdge Global, Yumi assists companies to identify and monetise their intellectual property.
In this episode you’ll learn about:
- The importance for SME’s knowing the difference between an intangible asset and intellectual property
- How do you determine your competitive advantage
- When is the best time to register a patent
- What are you key assets
- What things do you need to include when considering your company’s worth
- Data – could yours be valuable
- What stage of your business should you talk to an expert
- How should you manage your trade secrets
- If you have an idea for a product why should you do a thorough check before registering
- Speed to market – is it the ideal way to launch a new product idea
- How can you protect your new product ideas
- What steps should be taken to get ready for investors
Yumi’s top 3 tips:
- Tip 1. Never exclusively rely on non-disclosure agreements (NDAs) as the best way to avoid a trade secret stolen is by not sharing it.
- Tip 2. Before investing in expensive patents, ask yourself whether you should file a patent. You may be disclosing a trade secret!
- Tip 3. Bring in other people’s ideas into your organisation – not all the smart people work for you!
Learn more about Yumi Millan at:
Listen to Yumi’s full interview on the Aus-Asia Business Program below: