An IP strategy is a working plan that considers both the IP you develop and the plans and needs of your company or project while factoring in costs and budgets. A well-designed IP strategy should ensure that you are at the peak of your IP and commercial development scales at all times.
Q:What is IP Strategy?
A:
Q:Why is IP Strategy important?
A:
A proper IP strategy will get you ready for your future challenges, including IPOs, M&As, product launches, and attacks by competitors. Not having an IP strategy often means operating in a disconnect between technological achievements and business needs.
Q:What are the risks of not having an IP Strategy?
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A company that does not have an IP strategy is very likely to proceed in a wasteful manner, finding itself unprepared at critical points in the company’s lifecycle, and may improperly prioritize activities without taking into account the impact of changing landscapes.
Q:Do I need an IP Strategy if I am a start-up?
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You probably need an IP strategy more than anybody else because you don’t have several lines of products like bigger companies, and the impact of a mistake in planning your IP is likely to be much more significant than for an established company. Moreover, a well-planned IP strategy may contribute important input to your business planning and its result may appeal to potential investors.
Q:Do only large companies need an IP Strategy?
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Definitely not. Medium and small companies need to strategize their IP more than anybody else because a small company doesn’t have several product lines like larger enterprises do. The impact of an error in IP planning is likely to be much more critical than for an established company. IP strategy may contribute important input to business planning.
Q:How will my IP Strategy help in the long run?
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A well-planned IP strategy will help you be prepared for investment, get you faster and in a less expensive way to the issuance of relevant patents, and contribute to growing your company’s value or product.
Q:Can a proper IP strategy help in capital raising?
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Sage investors attribute substantial weight to IP. When looking at the company, the way IP has been treated carries substantial weight with the investor and can make or break an investment. A company that has invested thought in planning a sound IP Strategy gives comfort to the investor and is often likely to result in a better outcome when an investment is actually made.
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