Over the years we have dealt with various types of intellectual property situations whether a business or individual is looking to protect, license, purchase, sell or commercialize the asset. A critical point in understanding intellectual property, one needs to know how to protect themselves every step of the way. While obtaining patents is beneficial for some intellectual property, “market share” and a credible “growth story” are key in getting the right valuation under any transaction scenario. Patents, while a good defensive tool to potential infringers are useful, they are also expensive, time consuming and can take years to obtain. Importantly, patents also run the danger of putting your “cook book” in the hands of the public which can be a dangerous risk. In most instances, it’s best to be buttoned up from a document standpoint, and keep this valuable asset under stealth-mode as a trade secret and know-how.