5 ways to analyse your product or service IP Strategy (post 4 of 5 on IP Strategic Reviews)
It’s about leverage. It’s that simple.
A specific IP Strategy for each of your products or services will multiply your return on investment many times over.
Here are 5 simple tips to keep in mind when doing the product / service IP Strategy element of your Strategic Review. What would you add?
1 – Start small, do something credible and measurable and build from there. Do it in a way that doesn’t close the door on future opportunities, but instead opens new ones.
2 – Think carefully about where the market is going and why – make sure you take your technology there, and first. Build your intellectual property strategy around this future direction.
3 – The changes you make have to fit seamlessly into your current internal processes, be they innovation, product development, marketing or whatever. The minute that IP adds just that little bit too much grit into the system, is the minute you have provided another incentive for the business to ignore it. Another good reason to start small.
4 – Be creative. You’re not here to follow what everyone else does.
5 – Think around the product or service and all of the other aspects you should add to intertwine with your IP elements. Government approvals and regulation, marketing, sales feedback, technology development, geographic issues, etc. etc
[Photo credit: macca]