Spring 2014 issue of Horizons

∙ Utilize non-compete agreements when necessary.

∙ Proactively observe the use of intellectual property by competing organizations.

∙ Provide continuous training on IP policies and procedures to all personnel within the organization, regardless of their title or department. If IP is critical to the success of the organization; then, protecting those assets should be a key component of your organization’s overall risk management strategy. In order to mitigate IP risk, organizations must identify, assess, and minimize the risks associated with their ownership and use of IP. A strong IP internal control environment is the first step in managing risk and maximizing the value of your organization’s intellectual property.

Custody of IP Assets (Physical and Logical) ∙ Store IP related documentation in a dedicated, centralized location and restrict access (physical and logical) to the information. ∙ Keep R&D info in secure, confidential areas. R&D should remain segregated from normal production and systems.

∙ Monitor and track inventory levels of all sample products still in design stage.

Human Resources Policies ∙ Require employees to sign non-disclosure agreements. ∙ Require employees to sign employee agreements outlining limitations of use and custody of IP.

RubinBrown’s Life Sciences Services Group RubinBrown provides specialized accounting, tax, and business advisory services to animal health, human health, renewable energy and plant sciences companies around the country.

Steve Hays, CPA — St. Louis Partner-In-Charge Life Sciences Services Group 314.290.3336 steve.hays@rubinbrown.com

Todd Pleimann, CPA — Kansas City Managing Partner, Kansas City Office 913.499.4411 todd.pleimann@rubinbrown.com

Jason Mannello, CPA — St. Louis Manager & Vice Chair Life Sciences Services Group 314.290.3216 jason.mannello@rubinbrown.com

Rodney Rice, CPA — Denver Partner Life Sciences Services Group 303.952.1233 rodney.rice@rubinbrown.com

Felicia Malter, CPA — St. Louis Partner Life Sciences Services Group 314.290.3249 felicia.malter@rubinbrown.com

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