Protecting the Valuable Intellectual Property Assets of Agribusiness Innovators
ce Miller can help innovators overcome critical challenges to grow successful agribusinesses. Learn more about the unique business and legal challenges facing food and agricultural innovators and how to protect and grow that innovation in our 2015 Agribusiness Guide
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Feeding a growing world using finite resources: that is the challenge of modern agribusiness. The need to increase yields and decrease resource consumption demands innovation. One modern innovation is the use of agricultural practices that are data driven. For example, producers are investing in precision planting and data gathering tools that collect everything from weather and agronomy data, to feed and water consumption metrics for livestock. In a recent survey by the American Farm Bureau Federation, producers estimate that data driven agriculture has reduced input costs by an average of 15 percent while boosting crop yields by 13 percent. Amidst this foray into the numbers game, it is important to understand the intellectual property aspects involved in protecting such agricultural innovations.
The American producer generates data every time he or she operates a combine, operates a sprayer, or delivers seed to the grain elevator.
However, not all producers are aware of the amount of data they generate or the full extent of the value of that data. It is the value of that data that intellectual property (IP) laws can help protect and even monetize. Copyright and trade secret are two particularly useful types of IP used to protect such rights.