Business Strategy Compliance

Business strategy defines WHAT a company does and HOW it does it currently. More importantly, the business strategy defines what a company WILL do in the future.

An intellectual property (IP) strategy provides necessary guidelines for managing IP. However, an IP strategy is only a tool to ensure effective implementation of the Business Strategy. An IP strategy should be compliant meaning that it will support and promote the Business Strategy.

 

Let’s take the example of a business that wants to compete in developing and marketing of a certain medical device in five national markets. The business model includes outsourced manufacturing, distribution by national vendors and possible exit in three to five years. The business operates as a dispersed network of individuals across two continents (not correlating to the potential markets). This is the Business Strategy.

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STRATEGY

The IP strategy to support the Business Strategy would include definition of the appropriate IP tools, such as utility patents and/or design patents, trademarks, trade secrets, copyrights, definition of geographic protection (what should be filed and where) and definition of patent the filing strategy (what to file and how – US Provisional, PCT and National Filings, for example). It also will address such issues as multinational prosecution (how to respond to each office action), filing of consecutive applications, and non-IP related issues, such as employment and business contracts, proper documentation of R&D processes, management of press releases, regulatory submissions, and so on.

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Additional Considerations

In order to provide an appropriate IP strategy, an IP Audit should be performed. The IP Audit will review all the current business practices and projected future developments and revise them with an eye towards Business Strategy. Moreover, an IP Audit can include valuation of the company’s IP Portfolio, thus providing an accurate tool for measuring one of the most important company’s most important intangible assets.

 

Levin Consulting Group provides IP Audit services to ensure Business Strategy compliance across the entire organization.

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What It Includes

The IP strategy to support the Business Strategy includes definition of the appropriate IP tools, such as utility patents and/or design patents, trademarks, trade secrets, copyrights, definition of geographic protection (what should be filed and where) and definition of patent the filing strategy (what to file and how US Provisional, PCT, National Filings, for example). It will also address such issues as multinational prosecution filing of consecutive applications, but also presumably non-IP related issues, such as employment and business contracts, proper documentation of R&D processes, management of press releases and regulatory submissions and so on.

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