May 23, 2018
In business operations, the aim is to achieve competitive edge on the market in relation to the competitors. A strategy is the plan to reach the desired goal. This relates to anticipating, or even prediction, as well as choices with consequences. Although certain regularity also applies to IP strategies, each company must draft their own unique plan to utilize their intellectual property.
We have developed a three-stage work method for drafting an IP strategy: advancing from an analysis of the present situation through a business strategy to an IP strategy. We use information gathered from various channels to obtain as accurate as possible a total view of the resources, operating field, and competitive situation of your company. A general IP strategy will be created to support your business strategy, taking into account the various forms of protection and alternative operating methods.
The drafting of an effective IP strategy is based on cooperation. By means of an online questionnaire for the responsible persons of your company and through discussion we seek to understand your business operations and the strategic choices you have made. Once we know your business goals and plans to carry them out, we present alternative choices to utilize IPR as their support, as well as the likely outcome of the various choices.
The IP strategy of an active company that has established its position in its line of business in all likelihood differs substantially from a start-up company’s strategy. A patent, for example, which for one party represents means to maintain a monopoly is a business risk for another party. Too extensive a scope of protection or geographical area easily leads to the financial burden becoming heavier, and the investment eventually turns into an expense. The operating environment may change or your own freedom to operate become narrower as a result of registrations made by a competitor or third parties. In extreme cases, conflicts arise that cannot be solved at a negotiating table. Minimizing IPR-related risks requires knowledge and calculated decisions.
IPR is still often seen as mostly concerning protection and filing registrations, although in fact it relates to a set of instruments to achieve a competitive edge. A company must invest in its intellectual property in the same way as in the know-how of its personnel, managing its rights, and brand loyalty of the customers. An investment aims at an increase in production. Successful companies take the long view in their operation, intelligently make use of their resources, and actively follow changes in their operating environment. An IP strategy identifies risks and enables effective reacting to them in case they are realized.
The image acquired at the first stage of strategy work on the current state of your company’s IPR acts as the base for the subsequent steps. When you reply to our IPR Audit questionnaire, you will see what the thematic entity we refer to as IPR actually is. The replies reflect the level of IP knowledge of your company, reveal development targets, and provide a general idea on utilizing IPR in business operations. Our analysis will highlight the development targets and bring out a well-founded suggestion on their prioritization. It makes sense to decide on the extent of the second and third phases only after analysing the IPR Audit results.
Well thought-out building of an IP portfolio makes possible a managed investment in the intellectual property of your company. An IP strategy drafted in cooperation facilitates decision-making, guides the use of individual forms of protection, and allows IP management.
Predictions that are based on realism have the tendency of becoming true. Reaching the set goal requires continuous work which is made easier by methodicalness. A well-designed IP strategy gives you concrete benefits from your intellectual property.
Need a sparring partner in building an IP strategy? Please contact us.
Kolster is one of the most experienced IP specialists in Europe. We offer a one-stop-shop solution for all IP services for protecting, exploiting and defending your inventions, designs and brands.