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Simultaneously, flavor companies are facing increasing pressure to reassure customers about safety and compliance, while also taking steps to protect intellectual property, primarily consisting of proprietary formulas, business practices and supply chain. “It is the most valuable asset that your companies have,” said Cox. Intellectual property enhances the profitability of companies and provides numerous competitive advantages. “It’s the intangibles that make the difference,” he continued. “When your customer asks where you got an ingredient, this is proprietary. Your customers and your customers’ customers want to know more about your flavors and ingredients. And because the environment is so competitive, it’s more important than ever to protect this information.”
Other topics discussed: Country of origin; Strategies for limited formula disclosure; Knowing your sources
This is only an excerpt of the full article that appeared in P&F Magazine. The full content is not currently available online.