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  • Are you a successful patent strategist? Check it out!

    10/6/2015

    For those of you who like summaries, I have picked out some of the best advice from our 3 latest posts and todays webinar in The IP Magic Group, created by our own thought leaders Falah Hosini, Dimitris Giannoccaro and Christina Nordström. If you were not able to take part in the webinar, there is a link to the recorded version at the end of this post. Enjoy!

    Before I present the checklist, give some thought to 4 qualities that characterize a professional and often successful Patent strategist.

    1. Quality 1 – Always updated on competitors patent actions, where competitors protect their innovations and if there are any licensing- or collaboration opportunities within your area of technology.
    2. Quality 2 – The ability to tighten the "collaboration gap” between yourself as a Patent strategist and your colleagues within R&D and market. We suggest that you create a process throughout the project where IP is treated and where multiple questions need to be answered by the R&D team. You should also have IP-workshops during the project with an experienced moderator (a patent expert). The goal is then to identify new inventions disclosures and also to identify new technical problems that has been solved.
    3. Quality 3 – Always ready to adapt to changing conditions such as "back ambush” from competitors, uncontrolled cost spiral or other financial or legal hazards.
    4. Quality 4 – I almost forgot the most important quality. Analysing and combining all of the company´s IP (trademarks, patents, designs, copyright, agreements etc.) and aligning them to the company’s business strategy. Then you know that your Intellectual assets help your business more than they hinder.

     And now, straight over to the checklist.

    10 steps to become a successful Patent strategist

    1. List all major intellectual assets of your company such as; business plan, customer lists, manuals, agreements, copyrights, trademarks (including logotypes), inventions and more. Even if you are focused on patents, this way you will be in control over your own playing ground and that´s the best start.
    2. Check which assets could and should be protected by patents.
    3. Map competitors’ patents in relation to the company’s potential IP. Do you see any potential clashes?
    4. Acquire a good insight of the maturity and state of the art of the technology. You want to identify the essential areas that are key for the technical field of the business, as well as who are the strong leaders of these technologies while weighing in the position, uniqueness and impact of own technology for driving and leading development.
    5. Make an all-round 360 degrees scan of the topography of the market playground to gauge the size and business potential of the different marketplaces as well as identify the major market and technology drivers.
    6. File for patent protection in countries where you have your primary market and in those countries where competitors are active.
    7. Carefully study the business plan with long term business objectives and development strategy of the company in order to identify the roll it wants to play and be identified with; a technology leader or follower, acquire high market share or monopoly of the market for own technology.
    8. Develop a strategic plan that can achieve the business objectives. Make sure your plan has a solid strategy and not only consists of general information that could be applicable to all R&D projects. The plan needs to be flexible and help you to quickly adapt to reduce risks and utilize the opportunities as they materialize in the marketplace.
    9. Involve top management in the approval and implementation of the strategy. You want to ensure that the necessary budget is dedicated for achieving the goals of the strategy. You also want that people with the necessary competence within the organization are designated implementation responsibilities necessary for success.
    10. Decide on a plan for follow-up and act upon it.
    Some last words of advice
    To become an expert you need to start exploring different opportunities. One of the best ways to do that is to listen to what others has to say and then build your own opinion on things. After all – It´s probably you that will execute and update the company´s patent strategy.

    Listen to the webinar
    Here you will find a recorded version of our webinar.
     
    Stay tuned for more posts and webinars in October. The best way to do this is by joining The IP Magic Group.

     

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