Lecture 13 - IP Strategy

Question 1

What is a IP Strategy>

Answer 1

It is a plan in which you will create and increase the value or one of more products in a business
It is a way of preventing others from exploiting your innovation by effectively using your IP

Question 2

How is an IP strategy used?

Answer 2

• Build your business plan
  
  • Leverage finance to fund your business (eg. VC)
  • Stay in front of your competition
  • Develop your commercialisation strategy
  • Know when, where and how to defend and enforce your IP rights

Question 3

What are IP Rights?

Answer 3

the legal means by which intellectual property is protected

Question 4

What is the purpose of IP Rights and IP Strategy?

Answer 4

• A competitive and commercial edge
○ Stop others from copying and imitating
○ Competitors think twice - Freedom to Operate
• A tangible product to license or sell
○ Develops an income/ royalty stream
○ Creates collaboration opportunities
• A deterrent to competitors
○ Used for litigation, threat of litigation and opportunity to license
○ Defend your technologies

Question 5

What does the “Mann study” tell us?

Answer 5

○ Companies with patents received about 73% more funding than those without patents
○ Companies without patents are twice as likely to go bankrupt compared to companies with patents
○ Companies with patents are 4 times more likely to go to an IPO

Question 6

Why not to apply for IP Rights?

Answer 6

• Fast moving technology
	• Limited market value
	• Trade secret might be of more value
	• First mover advantage
Cost

Question 7

What are the key criteria relating to obtaining IPRs?

Answer 7

• Cost and easy of filing an application
• Patentable and non-patentable subject matter
○ Pharmaceuticals, second use, business methods, software
○ Methods of medical treatment, chemical compounds, etc
○ Trade Secret or Confidential information
• Prior art and competitors
• Grace periods - US, AU and JP - not EP
• Provisional protection following publication

Question 8

How do you protect IP in an International Market?

Answer 8

• Policing and Competitive Surveillance
  
  • Licensing opportunities
  • Gaps in the market
  • Trends
  • Where competitors are heading
  • Monitoring
  • Watching
  • Searching strategies