The heart of value to most software companies is in their intellectual property (IP), but many do not take adequate steps to make sure that all that IP is adequately protected. To protect their IP, businesses should at a minimum:

1.                   If not operating an open-source model, only disclose the minimum IP necessary;

2.                   Make sure all contractors and employees  of the business have signed written agreements assigning all IP to the business;

3.                   Put in place processes to ensure IP such as know-how is well documented and doesn't just rest in a few individuals;

4.                   Put in place well drafted licence agreements that properly reflect the business model and prevents customers from claiming the IP as their own; and

5.                   Review the IP to see what IP can be registered and, if appropriate, register that IP - first movers have priority