Determining an appropriate intellectual property strategy is crucial in today’s marketplace. Understanding what can and what should be protected, is just the first step in the development of an intellectual property strategy.
We understand that companies that are working on cutting edge technology need to remain focused on development, forming partnerships and engaging with clients and customers. This takes a lot of time and energy -- which is why you need to have trusted specialists on your side when it comes to protecting your intellectual property.
What is an IP protection strategy?
An IP protection strategy has a lot of objectives but first and foremost, it seeks to protect your assets from competitors. Developing an IP strategy with professional advisors however, provides much more than this.
These crucial strategic decisions can untap useful information and ideas that are beneficial to the direction of your product. It also helps to paint a clear picture of the strengths you have and the obstacles you may face in the road ahead.
IP protection strategies are often integrated into corporate strategies. It is highly beneficial to maximizing sales and profit, capturing market share, maintaining lower costs, identifying competition and keeping track of marketplace changes and demands.
The process of developing an IP strategy really helps you to place your product within the industry and marketplace it’s operating in.
The process of developing a successful IP strategy gives you…
- Information on the latest innovations in your field
- Insight into your competition
- The possibility to build partnerships with other businesses
- Access to a number of resources
- A sense of the other design patents out there❏ Awareness to avoid commercial issues and infringement
… and much more!
How it Works
Typically, building a strategy comes from looking at the two main factors that will influence the product: the internal and the external environment the business is operating within.
An example of the internal environment could be the customer’s needs, that the product tries to address, while the external environment could be the competition.
In a nutshell, through the analysis of key components of these two environments, timely and thorough work, relevant information, decisionmaking and a competent set of actions to execute, a successful IP strategy can be formed.
Working With Us
When you work with Bhole IP Law in Toronto, you have made the decision to have a trusted and experienced advisor provide as broad, or as detailed of a strategy assessment, as your business requires.
We recommend that all technology companies undergo an intellectual property audit/assessment to review the state of intellectual property held by the company and its primary personnel, to maximize future success.
Our services include:
- IP audits
- Employee IP incentivization programs
- Valuation assistance
- Patent landscape evaluation
- Facilitating Industry connections
If your business is looking to develop a successful and foundational IP strategy, please get in touch with us today to get the process started.