Research and development is part of every technology business, however not all organizations document the progress in a manner that will protect them in the future. Today I'll pose a number of questions that will generate thought on your own Intellectual Property Strategy.
Intellectual Property Related Questions
What role will IP have in your company?
Will your company generate IP?
Will you company in-license IP?
Will you company license IP to others?
Will your company commercialize IP?
Will you seek Venture Capital financing for your company?
Intellectual Property is All About Value
Generate New IP > Development IP through technical, regulatory and business milestones > Commercialize or License-Out
Define Business Plan
Ensure that the IP goals and business goals are aligned
Create an IP strategy for the business
What would you like to have exclusivity on?
What IP is required to practice your business?
What IP will be created by the business?
What IP would maximize the value of the business?
Maintain a focus on using IP to create value for the business IP may be the most valuable (intangible) asset in a company.
Research & Development
R&D Program should be aligned with the business plan
The R&D Program should be to take a product from concept to commercial application and generate revenue
Ex: Product development in biotech company
Ex: Product development in an engineering company
R&D Program should have milestones
What IP is required to practice your business?
Compositions, uses, methods of manufacture (technically superior, easier to use)
Overcome blocking patents
What IP will be created by your business?
Maximize the scope of your claims
Ex: Use for a family of products
What IP would maximize the value of your business and take it to the next level?
Extend patent life on existing products (PTE)
Extent market exclusivity
New uses for the existing product, new combinations
Improved methods of manufacturing
Improved second generation products
I trust that the items covered above will help you define your own Intellectual Property Strategy.
Footnote: Speaker: Colin Macaulay during the Intellectual Property sessions at the Ivey School of Business
