Intellectual Property (IP) strategy is a clear understanding of the business objectives to be achieved, getting aligned with them and contribute in achieving these objectives. Tighter the alignment, better are the results. So, its key to understand what factors influence IP Strategy.
- What is your range of products and services?
- How important is product exclusivity?
- Who are your competitors and how do they operate?
- What kind of partnerships will you have?
- What kind of control do you need over vendor and distribution channels?
- What is your investment model?
- What is your revenue model?
- What is your marketing plan?
- What is your plan regarding mergers, acquisitions and divestitures?
- What is your exit strategy or back-up plan?
Takeaways – In a nutshell, define IP strategy in line with the business objectives – long term and short term. One other key factor to determine is if you want to adopt offensive patent strategy or not. Ultimate goal is to focus on Increasing Strategic business value.
About VajraSoft Inc. – VajraSoft Inc. is Intellectual Property (IP) Management Software company, helping customers manage innovations and monetize IP’s. Our award winning products empower businesses and IP law firms to automate the patent filing cost estimation process of creating cost estimation quotes for filing a patent in any country globally. VajraSoft Inc. PatFolio helps customers with Invention Disclosures Management, Drafting Patent Applications, filing, managing patent prosecution life cycle and patent maintenance.
VajraSoft Inc. is Master Class IP Solution provider, and its products won several Cloud awards including – UP Start Awards for Best Industry Application for 2012. CIO Review magazine selected VajraSoft Inc. as 100 Most promising Big Data companies for 2014. Silicon India magazine listed VajraSoft Inc. as Top 100 Technology companies in US for 2013. VajraSoft Inc. is also Finalist of StartmeupHK Venture Program, conducted by the Govt. of Hong Kong and UP Start Cloud Award for Best BI / Analytics Application for 2013.
PatFolio not only automates invention disclosure management but also managing patent portfolio and patent prosecution life cycle. In addition, PatFolio provisions various checklists useful for patent filing. Using these checklists IP Professionals can ensure requisite information needed for preparing patent application is available and ready for filing. These patent application checklists save money, time and reduce / eliminate errors in patent application filing with patent office.