- Filing patent applications without any understanding of the patent arena within the field.
- Creation of patent protection for products without understanding how the competition is protecting their products.
- No monitoring on how the technology area is developing over time.
- Assuming that the patent office is making sure that nobody is infringing your patents
- Starting a R&D project without making sure that there is freedom to operate.
3 reasons why you should create an IP-strategy?
An IP-strategy is the business gameplan that gets revisited each time the business adapt to the market. Facing reality without an IP-strategy is a bit like the opposite of Sun Tzu´s advice. You will end up in hundreds of battles trying to protect your IP. A business faced without an IP-strategy is like trying to play a game without knowing the rules.
A simple IP-strategy could be used to:
- Lock out competitors from the next generation of product.
- Avoid and design around an aggressive competitor.
- Maintain market lead through secrecy.
My 3 top tips to avoid ending up in a costly game.
- Before you decide to start protecting you products with IP you should make sure to understand how your competition is handling their own IP. Based on the assessment you should set up your own IP-strategy.
- Always activate search alerts on your competitors and technology based on patent information. You will follow the development and be prepared if you need to take legal action. You may find new markets that you were not aware of but as well new business partners.
- Stay well informed and aware of your business playground (competitors and technology) and learn to exploit and capitalize on your gained awareness. If you realise that it does not make sense to protect your product with IPR, make sure that you have freedom to operate (FTO) and start advertising you product. You will save a lot of money because IPR is not always the only way.
One more thing!
Make sure to understand who your competitors are and the technology. You will be surprised how much one can interpret from patent information. I will end this by a quote from Sun Tzu "He who knows when he can fight and when he cannot, will be victorious”.
What´s your best advice?
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