Forbes has an interesting take on how the need for companies to protect brand reputation has become increasingly important in this information age. Consider this little factoid courtesy of Thomsn Reuters and Interbrand: in the 1970s, 95 percent of a corporation's value consisted of tangible assets, compared to just 25 percent today. In other words, a business's most valuable asset is its good name, its brand and reputation. In a recent survey released jointly by the World Economic Forum and the Fleishman-Hillard public relations firm, three-fifths of chief executives said they believed corporate brand and reputation represented more than 40% of their company's market capitalization.

But along with that shift in value away from assets, there are now more opportunities than ever for a company's hard-earned reputation to come under attack more than ever.

Consider the nearly 370 million users of Facebook and Twitter alone. Corporate America can no longer afford to sit on the social media sidelines, hoping their intellectual poperty is not being compromised. Increasingly, IP owners are monitoring social content for keywords attributable to their companies. If abuse is detected, the owner should take immediate action, says Jason Fulmer of Gardere Wynne Sewell LLP. "There are legal remedies to pursue, but it often is more effective to approach the specific social media site to try to settle the matter under the site's own dispute-resolution procedures," says Fulmer. "These sites all have different policies, but all operate under a common desire not to be sued because of a user's infringing content." If a company fails to act, the site could be charged with being complicit in the infringement.