“The most important thing is to ensure that you hold the IP rights other people want”
Most companies effectively capitalize on financial and equity assets, but they do not use an equally powerful asset: intellectual property assets. IP assets are crucial to a company’s core strategy, not just as an element of R&D or even a figure on the balance sheet. IP assets are an integral part of a company's sustainable competitive advantage and must be managed and developed accordingly.
Patenting Solutions firmly believe that an IP strategy should be a global strategy that doesn’t just represent where you stand in your own territory, but also where you could grow to in the future. For this to happen, your distinct advantage, your proprietary Intellectual Property, must be protected and developed internationally.
The Primary IP Strategy of yesteryear was the protection of one’s proprietary technology through patent filings. This can be described as a defensive IP strategy, aimed to defend your hard-earned technological advantage. Later, in order to fend off litigation attempts of competitors, the primary focus of patent protection was often focused on preserving ones freedom to operate. This approach has been identified as being an offensive IP strategy, as it includes strategic patenting in the competitor’s space, to enable attacking the competitor in order to buffer up your market or negotiation position. More recent IP strategies have focused, in addition to the above, on using IP as a profit or revenue center, by specifically creating licensable or saleable IP. Aspects of all of the above approaches should be considered when developing your IP strategy.
“You need to inventorize where you stand and where your competitors stand. Only then can you build your strategy”
The intelligent starting point for most IP strategy setting is the running of an Initial IP Audit or Analysis. There is great benefit in periodically taking a good look at where your intellectual assets are holding: what has been developed, what has been protected, what is being under utilized or being unintentionally publicized? Further, a vital dimension of needed information in relation to where your competitor’s are standing and what they are up to. We have the expertise to strategically guide you, and the network to help implement your IP strategy on time.
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