IP-strategy
IP-rights, such as patents, are assets that can be used to support and grow a business in several ways. Patents can be used to:
- Ensure that competitors do not use your technology without first making an agreement regarding the patented invention;
- Secure funding for developing an invention, sch as clinical trials to get a medicine treatment approved;
- Protect the company from infringement;
- Display a company as innovative to potential customers;
- Secure and capitalize on technology that is not central to the company’s main operations;
- Make the company an attractive business partner.
VALUA recommends drawing up an overall IP strategy to secure IP rights that suit the company’s current and future business plan. It is always easier to write a good patent application when you know what business purpose it has to fulfill. A good IP strategy is a valuable tool for forming an overview and steering the company in a sensible direction in relation to securing essential rights to the technologies that are being developed.
Another aspect to consider when crafting an outstanding IP strategy is to look at IP rights owned by competitors. In order to create a good IP strategy, it is appropriate to uncover the IP risks that exist, especially IP owned by competitors, so it is known what future obstacles and opportunities there are to navigate through.