Start by Developing an IP Strategy for Your Business
Learn how to make strategic business decisions at the beginning of your company’s lifecycle, when getting your business started. This section breaks down and analyzes critical IP strategy considerations that your company will face at this stage of the business lifecycle.
Key takeaways
As you are setting up your business, remember many of its aspects can be protected with IP
Your business context should drive your IP strategy
IP rights are an investment in your business. If you don’t act now, you may lose out.
When working with others, get agreements in writing that lay out key terms
Choose your brand wisely and protect it.
Learn how to make strategic business decisions at the beginning of your company’s lifecycle, when getting your business started. This section breaks down and analyzes critical IP strategy considerations that your company will face at this stage of the business lifecycle.
Key takeaways
As you are setting up your business, remember many of its aspects can be protected with IP
Your business context should drive your IP strategy
IP rights are an investment in your business. If you don’t act now, you may lose out.
When working with others, get agreements in writing that lay out key terms
Choose your brand wisely and protect it.
Market research: your business context
Running an in-depth market research is a key step when you are getting your business started. Understanding the context where you will commercialize your products, creations or services will help you build a competitive advantage and grow faster.
The main elements to be considered under your market research are:
a. What sets your apart: your Unique Selling Points
At this stage, it is important to understand if there is any element that is or will become your unique selling proposition (or USP), something special that sets you apart from what is already available on the market.
b. Where your business operates
It is also important to understand how your products and services will reach the market, and in which geographical regions.
c. Your competitors
Finally, it will be important to recognize which players currently are your competitors, and which ones may become competitors in the future. As part of this analysis, remember to assess what kind of products your competition is selling.
All these elements contribute to and drive your company's IP strategy
Market reasearch: determine what's new
Market research is key to gain insights into your competition and into your unique selling point(USP)
Is any aspect of what you do unique?
Yes
No
If it's unique, you might be able to protect it with IP.
If it's not, someone else might be protecting it with IP and you might need permission to use it.
Is any aspect of what you do unique?
Yes
If it's unique, you might be able to protect it with IP.
No
If it's not, someone else might be protecting it with IP and you might need permission to use it.
First, identify whether any aspect of your business is unique.
If unique, you might be able to protect it with IP
If not unique, someone else might be protecting it with IP and you might need permission to use it.
How do I know?
Do some research
1
Start simple
Use your favorite search engine to look for key words, and see if you find something similar.
2
Go deeper
If nothing turns up, consider looking at specialized databases for IP, both locally and in other markets
How do I know?
Do some research
1
Start simple
Use your favorite search engine to look for key words, and see if you find something similar.
2
Go deeper
If nothing turns up, consider looking at specialized databases for IP, both locally and in other markets
What can you protect with IP?
Remember, a wide range of elements you daily use in your business may be protected with IP. Most businesses use a mix of IP rights to protect each intangible asset.
IP rights are an investment into your business’ future. Think about where your business will be in the near and long-term future. If you wait, you may miss the window to protect most types of IP.
Just because you can protect your intangible asset,it doesn’t mean you need to. Protect only things that may add value to your business.
Where should you protect your IP?
When choosing where to protect your IP, consider where you and your competitors operate around the world. IP rights are in fact country specific (or territorial), and therefore:
You need to secure rights in each country
The procedures and costs of protection may vary by country
In some cases and countries, protection may be automatic
In practice, when choosing where to protect your IP rights start with
the following considerations and questions:
map
Where will you or your partners provide your offering?
add_business
What markets will you sell your offering in?
travel_explore
Where will your competitors make and sell their offering?
diamond
The value a proprietary position can bring to your business
reduce_capacity
Your human and financial resources
Protecting your company’s IP when working with others
As you’re setting up your business, you need to work with others, from software developers and graphic designers to business consultants or technical engineers.
Make sure that during initial conversations you protect your IP and business strategy. Be clear from the start and put in writing the following:
a. Clarify what IP your company owns
If you own the IP, make sure you can prove it and be clear about the fact that IP rights are assigned to your business.
If you do not own the IP, make sure you get permission to use it, if needed not only currently but also in future products or with partners. Make sure you also clarify whether you can use it if you sell your business
b. Know what you will get
Put in writing what you will obtain from this relationship, and consider whether you need anything from the other party (e.g. documents, source code, models, formulas, materials, etc.).
Think beyond today and anticipate what you might need if your business or technology evolves and changes.
c. Identify what needs to remain confidential
Be clear about what proprietary information is confidential and specify how both parties can use this information. You may want to request the other party to disclose how they will protect confidential information.
Make sure you also include, if needed, conditions on whether the information needs to be returned or destroyed after the work is completed.
d. Using third party’s IP
Check if your collaborator is using someone else’s IP, in which case make sure you get permission to use it if needed. This is critical to avoid someone accusing you of using their IP without permission.
Benefits of effective branding
Starting a business often means building a brand and a reputation for your offering. As you are starting your business, remember that a successful brand appreciates in value over time and can:
Distinguish you from competitors
Drive consumer trust and loyalty
Stop others from free-riding on your success
Generate new revenue streams
Help secure financing
Without protection, you may be forced to rebrand, especially when entering new markets.
Choosing and building a brand
Choosing your brand wisely is the first step towards building and scaling your business. This includes your brand name, logo, and other related assets. Before making this choice you should conduct some research and make sure your chosen brand is:
Not already used in key markets (including the name, domain name, and logo)
Consistent with the image you want to portray
More than a simple description of what you will offer
Not offensive or negative, including in other languages or contexts
Not deceptive to consumers, including in other languages or contexts Once you choose your brand, protect it using IP. To maximize protection, make sure you:
Protect different aspects of your brand (your logo, slogan, product names, etc.)
Register in the markets where you plan to use it
Secure your virtual brand real estate (domain names, branded key words in search engines, social media, etc.)
Consider using a mix of IP rights to protect your brand (e.g. trademarks, designs, domain names, etc.)
Keeping your brand safe
Building a successful brand also entails sound management in keeping your brand safe.
It is important to monitor markets and understand if anyone is using your brand. If you discover someone else is using it, take action.
You can use your IP to make them stop, or to generate revenue by asking them to pay you to use it.
In case you do allow others to use your brand, remember that your name and reputation matter. In the contracts, make sure you:
Include guidelines for how your brand can be used
Require a minimum quality standards
Have the right to make them stop using your brand if your reputation is at risk.
Key takeaways
As you are setting up your business, remember many of its aspects can be protected with IP
Your business context should drive your IP strategy
IP rights are an investment in your business. If you don’t act now, you may lose out.
When working with others, get agreements in writing that lay out key terms
Choose your brand wisely and protect it.