Developing an IP Strategy
With many businesses closed or having scaled back operations, now is a good time to revisit your intellectual property strategy. One good starting point is to look at how you distinguish yourself from your competitors. Here are some key questions to ask:
1. How does your company create value and differentiate its products or services from the competition?
2. What do your competitors do to create value and differentiate their products or services?
3. Where do you compete?
The answers to 1 and 2 will provide the information needed to determine whether a particular form of intellectual property protection may increase your market share. Because the various forms of IP are territorial, the third question will help identify where to seek IP protection.
In the next series of posts, we will discuss how to take the information obtained from these three questions and develop an IP strategy.